TheStreet upgraded shares of Regeneron Pharmaceuticals (NASDAQ:REGN) from a c+ rating to a b- rating in a report issued on Monday morning, TheStreetRatingsTable reports.
Several other research firms have also commented on REGN. BidaskClub upgraded shares of Regeneron Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, November 27th. Evercore ISI reaffirmed a buy rating and issued a $395.00 price objective on shares of Regeneron Pharmaceuticals in a report on Monday, November 11th. Credit Suisse Group lifted their price objective on shares of Regeneron Pharmaceuticals from $310.00 to $340.00 and gave the company a neutral rating in a research report on Wednesday, November 6th. ValuEngine lowered shares of Regeneron Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, October 25th. Finally, Canaccord Genuity decreased their target price on shares of Regeneron Pharmaceuticals from $353.00 to $320.00 and set a hold rating for the company in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $384.74.
Shares of NASDAQ REGN opened at $368.81 on Monday. Regeneron Pharmaceuticals has a 12-month low of $271.37 and a 12-month high of $442.00. The company has a market cap of $40.51 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 1.62 and a beta of 1.19. The company has a current ratio of 4.03, a quick ratio of 3.27 and a debt-to-equity ratio of 0.07. The stock’s 50 day simple moving average is $331.72 and its 200 day simple moving average is $307.22.
Regeneron Pharmaceuticals declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In other news, major shareholder Sanofi sold 172,904 shares of the stock in a transaction that occurred 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 stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $370.00, for a total transaction of $370,000.00. Following the completion of the transaction, the director now owns 11,323 shares of the company’s stock, valued at $4,189,510. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,923 shares of company stock worth $63,262,696. 11.84% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of REGN. Bridger Capital Management LLC acquired a new stake in Regeneron Pharmaceuticals during the third quarter valued at approximately $30,000. HM Payson & Co. acquired a new position in Regeneron Pharmaceuticals in the second quarter worth approximately $31,000. Coastal Capital Group Inc. bought a new position in shares of Regeneron Pharmaceuticals in the second quarter valued at $38,000. Horan Capital Advisors LLC. bought a new position in shares of Regeneron Pharmaceuticals in the third quarter valued at $47,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Regeneron Pharmaceuticals during the 2nd quarter valued at $49,000. 66.48% 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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