Regeneron Pharmaceuticals (NASDAQ:REGN) Shares Down 3.5% Following Analyst Downgrade

Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) were down 3.5% on Tuesday after StockNews.com downgraded the stock from a strong-buy rating to a buy rating. The company traded as low as $1,051.00 and last traded at $1,053.87. Approximately 88,696 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 470,871 shares. The stock had previously closed at $1,091.98.

Several other equities analysts have also recently weighed in on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $1,200.00 price objective on shares of Regeneron Pharmaceuticals in a research note on Monday. Canaccord Genuity Group reiterated a “buy” rating and set a $1,152.00 price target on shares of Regeneron Pharmaceuticals in a research note on Thursday, June 27th. Royal Bank of Canada reduced their price objective on Regeneron Pharmaceuticals from $1,282.00 to $1,252.00 and set an “outperform” rating for the company in a research note on Tuesday. Argus lifted their target price on Regeneron Pharmaceuticals from $1,060.00 to $1,170.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, Truist Financial reissued a “buy” rating and set a $1,200.00 price target on shares of Regeneron Pharmaceuticals in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Regeneron Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $1,118.62.

Insider Buying and Selling

In other Regeneron Pharmaceuticals news, EVP Marion Mccourt sold 1,137 shares of Regeneron Pharmaceuticals stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,047.11, for a total value of $1,190,564.07. Following the sale, the executive vice president now directly owns 12,931 shares in the company, valued at approximately $13,540,179.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Christopher R. Fenimore sold 5,680 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the completion of the transaction, the chief financial officer now directly owns 15,305 shares of the company’s stock, valued at $18,447,575.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Marion Mccourt sold 1,137 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,047.11, for a total transaction of $1,190,564.07. Following the sale, the executive vice president now directly owns 12,931 shares in the company, valued at approximately $13,540,179.41. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,270 shares of company stock worth $10,695,833. 7.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in REGN. West Paces Advisors Inc. raised its position in shares of Regeneron Pharmaceuticals by 575.0% during the 1st quarter. West Paces Advisors Inc. now owns 27 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 23 shares in the last quarter. Stephens Consulting LLC bought a new stake in Regeneron Pharmaceuticals during the second quarter worth approximately $26,000. Sachetta LLC raised its position in Regeneron Pharmaceuticals by 71.4% during the second quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 10 shares during the period. Crewe Advisors LLC bought a new stake in shares of Regeneron Pharmaceuticals in the 1st quarter valued at approximately $28,000. Finally, Lynx Investment Advisory bought a new stake in shares of Regeneron Pharmaceuticals in the 2nd quarter valued at approximately $33,000. 83.31% of the stock is owned by hedge funds and other institutional investors.

Regeneron Pharmaceuticals Trading Down 1.4 %

The stock has a fifty day moving average price of $1,130.96 and a 200 day moving average price of $1,034.01. The stock has a market cap of $113.62 billion, a PE ratio of 30.46, a PEG ratio of 3.72 and a beta of 0.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.62 and a current ratio of 5.44.

Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported $11.56 earnings per share for the quarter, beating analysts’ consensus estimates of $8.93 by $2.63. Regeneron Pharmaceuticals had a net margin of 32.04% and a return on equity of 16.80%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the previous year, the business posted $8.79 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. Equities analysts expect that Regeneron Pharmaceuticals, Inc. will post 37.8 EPS for the current year.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; diabetic retinopathy; neovascular glaucoma; and retinopathy of prematurity.