Oppenheimer Lowers Regeneron Pharmaceuticals (NASDAQ:REGN) Price Target to $430.00

Regeneron Pharmaceuticals (NASDAQ:REGN) had its price target reduced by Oppenheimer from $480.00 to $430.00 in a research note released on Wednesday, The Fly reports.

REGN has been the topic of a number of other research reports. Robert W. Baird upgraded shares of Regeneron Pharmaceuticals from a neutral rating to an outperform rating and set a $410.00 target price on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reiterated a hold rating and set a $375.00 target price on shares of Regeneron Pharmaceuticals in a research report on Wednesday. Canaccord Genuity lowered their price objective on shares of Regeneron Pharmaceuticals from $353.00 to $320.00 and set a hold rating on the stock in a report on Wednesday, October 9th. Bank of America started coverage on shares of Regeneron Pharmaceuticals in a report on Wednesday, October 16th. They set a neutral rating and a $325.00 price objective on the stock. Finally, Guggenheim upgraded shares of Regeneron Pharmaceuticals from a neutral rating to a buy rating and upped their price objective for the stock from $355.00 to $403.00 in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $392.06.

Shares of Regeneron Pharmaceuticals stock traded up $15.40 during midday trading on Wednesday, hitting $341.79. 1,106,100 shares of the company traded hands, compared to its average volume of 772,436. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.11 and a current ratio of 2.91. Regeneron Pharmaceuticals has a 12 month low of $271.37 and a 12 month high of $442.00. The firm’s fifty day moving average price is $298.74 and its 200-day moving average price is $304.30. The stock has a market cap of $36.53 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.46 and a beta of 1.14.

Regeneron Pharmaceuticals (NASDAQ:REGN) last released its earnings results on Tuesday, November 5th. The biopharmaceutical company reported $6.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.13 by $1.54. Regeneron Pharmaceuticals had a net margin of 28.13% and a return on equity of 24.85%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the company earned $5.87 EPS. Regeneron Pharmaceuticals’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities research analysts forecast that Regeneron Pharmaceuticals will post 18.91 earnings per share for the current year.

Regeneron Pharmaceuticals declared that its board has authorized a stock buyback program on Tuesday, November 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the biopharmaceutical company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

In other news, major shareholder Sanofi sold 172,904 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $281.15, for a total value of $48,611,959.60. Also, Director Joseph L. Goldstein sold 1,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $340.44, for a total transaction of $340,440.00. Following the completion of the sale, the director now owns 10,323 shares of the company’s stock, valued at approximately $3,514,362.12. The disclosure for this sale can be found here. Corporate insiders own 11.84% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bridger Capital Management LLC bought a new stake in shares of Regeneron Pharmaceuticals in the 3rd quarter worth $30,000. Accurate Investment Solutions Inc. bought a new position in Regeneron Pharmaceuticals during the second quarter valued at about $31,000. HM Payson & Co. bought a new position in Regeneron Pharmaceuticals during the second quarter valued at about $31,000. Coastal Capital Group Inc. bought a new position in Regeneron Pharmaceuticals during the second quarter valued at about $38,000. Finally, Focused Wealth Management Inc grew its position in Regeneron Pharmaceuticals by 1,333.3% during the second quarter. Focused Wealth Management Inc now owns 129 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 66.56% of the company’s stock.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc, a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for treating various medical conditions worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema (DME); myopic choroidal neovascularization; and diabetic retinopathy in patients with DME, as well as macular edema following retinal vein occlusion, including macular edema following central retinal vein occlusion and macular edema following branch retinal vein occlusion.

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