Regeneron Pharmaceuticals (NASDAQ:REGN) Receives “Hold” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their hold rating on shares of Regeneron Pharmaceuticals (NASDAQ:REGN) in a research note published on Wednesday, AnalystRatings.com reports. JPMorgan Chase & Co. currently has a $375.00 price target on the biopharmaceutical company’s stock.

A number of other research analysts have also issued reports on the company. Credit Suisse Group lifted their target price on Regeneron Pharmaceuticals from $310.00 to $340.00 and gave the stock a neutral rating in a report on Wednesday. Bank of America started coverage on Regeneron Pharmaceuticals in a report on Wednesday, October 16th. They set a neutral rating and a $325.00 target price on the stock. BMO Capital Markets set a $344.00 price target on Regeneron Pharmaceuticals and gave the stock a hold rating in a research note on Tuesday, October 8th. Canaccord Genuity dropped their price target on Regeneron Pharmaceuticals from $353.00 to $320.00 and set a hold rating on the stock in a research note on Wednesday, October 9th. Finally, Piper Jaffray Companies set a $435.00 price target on Regeneron Pharmaceuticals and gave the stock a buy rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $392.06.

NASDAQ:REGN traded up $15.40 during trading hours on Wednesday, hitting $341.79. The stock had a trading volume of 1,106,100 shares, compared to its average volume of 772,436. The business has a 50 day simple moving average of $298.74 and a two-hundred day simple moving average of $304.30. The company has a market cap of $36.53 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. Regeneron Pharmaceuticals has a 1-year low of $271.37 and a 1-year high of $442.00. The company has a current ratio of 2.91, a quick ratio of 3.11 and a debt-to-equity ratio of 0.07.

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, topping analysts’ consensus estimates of $5.13 by $1.54. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.98 billion. Regeneron Pharmaceuticals had a return on equity of 24.85% and a net margin of 28.13%. Regeneron Pharmaceuticals’s revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company earned $5.87 earnings per share. Research analysts expect that Regeneron Pharmaceuticals will post 18.91 EPS for the current fiscal year.

Regeneron Pharmaceuticals announced that its Board of Directors has approved a share buyback program on Tuesday, November 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the biopharmaceutical company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Regeneron Pharmaceuticals by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,079,347 shares of the biopharmaceutical company’s stock worth $1,902,835,000 after buying an additional 54,247 shares during the period. Invesco Ltd. boosted its stake in Regeneron Pharmaceuticals by 3.5% in the 2nd quarter. Invesco Ltd. now owns 1,344,273 shares of the biopharmaceutical company’s stock valued at $420,759,000 after buying an additional 46,055 shares in the last quarter. Northern Trust Corp boosted its stake in Regeneron Pharmaceuticals by 0.6% in the 2nd quarter. Northern Trust Corp now owns 978,518 shares of the biopharmaceutical company’s stock valued at $306,275,000 after buying an additional 5,530 shares in the last quarter. Parnassus Investments CA boosted its stake in Regeneron Pharmaceuticals by 290.6% in the second quarter. Parnassus Investments CA now owns 625,000 shares of the biopharmaceutical company’s stock worth $195,625,000 after purchasing an additional 465,000 shares in the last quarter. Finally, Pictet Asset Management Ltd. boosted its stake in Regeneron Pharmaceuticals by 9.2% in the second quarter. Pictet Asset Management Ltd. now owns 538,358 shares of the biopharmaceutical company’s stock worth $168,506,000 after purchasing an additional 45,494 shares in the last quarter. 66.56% of the stock is currently owned by institutional investors.

About Regeneron Pharmaceuticals

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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