Truist Financial Reaffirms Buy Rating for Regeneron Pharmaceuticals (NASDAQ:REGN)

Truist Financial reaffirmed their buy rating on shares of Regeneron Pharmaceuticals (NASDAQ:REGN) in a report published on Tuesday, Benzinga reports. Truist Financial currently has a $1,200.00 price target on the biopharmaceutical company’s stock.

Several other brokerages also recently commented on REGN. Canaccord Genuity Group reaffirmed a buy rating and issued a $1,152.00 price objective on shares of Regeneron Pharmaceuticals in a research report on Thursday, June 27th. Barclays raised their price target on shares of Regeneron Pharmaceuticals from $1,200.00 to $1,220.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Regeneron Pharmaceuticals from $1,150.00 to $1,200.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Morgan Stanley reduced their target price on shares of Regeneron Pharmaceuticals from $1,183.00 to $1,182.00 and set an overweight rating on the stock in a research report on Thursday, July 11th. Finally, TD Cowen boosted their price target on Regeneron Pharmaceuticals from $1,030.00 to $1,200.00 and gave the company a buy rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $1,118.62.

Regeneron Pharmaceuticals Trading Up 0.9 %

REGN stock opened at $1,039.96 on Tuesday. The firm’s fifty day simple moving average is $1,129.87 and its two-hundred day simple moving average is $1,033.99. The stock has a market capitalization of $114.59 billion, a price-to-earnings ratio of 30.72, a price-to-earnings-growth ratio of 3.72 and a beta of 0.12. The company has a quick ratio of 4.62, a current ratio of 5.44 and a debt-to-equity ratio of 0.10. Regeneron Pharmaceuticals has a twelve month low of $769.19 and a twelve month high of $1,211.20.

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, topping 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 company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the company posted $8.79 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, analysts anticipate that Regeneron Pharmaceuticals will post 37.8 earnings per share for the current year.

Insider Transactions at Regeneron Pharmaceuticals

In related news, Director Arthur F. Ryan sold 100 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,059.24, for a total value of $105,924.00. Following the completion of the sale, the director now directly owns 17,882 shares in the company, valued at approximately $18,941,329.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Regeneron Pharmaceuticals news, Director Arthur F. Ryan sold 100 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,059.24, for a total transaction of $105,924.00. Following the transaction, the director now owns 17,882 shares in the company, valued at approximately $18,941,329.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher R. Fenimore sold 5,680 shares of Regeneron Pharmaceuticals stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $1,205.33, for a total transaction of $6,846,274.40. Following the sale, the chief financial officer now owns 15,305 shares of the company’s stock, valued at $18,447,575.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,270 shares of company stock worth $10,695,833. Insiders own 7.48% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of REGN. SteelPeak Wealth LLC increased its holdings in Regeneron Pharmaceuticals by 173.0% in the 2nd quarter. SteelPeak Wealth LLC now owns 1,092 shares of the biopharmaceutical company’s stock worth $1,148,000 after buying an additional 692 shares during the period. Atria Investments Inc increased its stake in shares of Regeneron Pharmaceuticals by 12.2% in the first quarter. Atria Investments Inc now owns 8,657 shares of the biopharmaceutical company’s stock worth $8,317,000 after acquiring an additional 941 shares during the period. Tri Locum Partners LP increased its stake in shares of Regeneron Pharmaceuticals by 104.5% in the second quarter. Tri Locum Partners LP now owns 17,516 shares of the biopharmaceutical company’s stock worth $18,410,000 after acquiring an additional 8,949 shares during the period. Nordea Investment Management AB raised its holdings in shares of Regeneron Pharmaceuticals by 23.2% during the first quarter. Nordea Investment Management AB now owns 29,195 shares of the biopharmaceutical company’s stock worth $28,218,000 after purchasing an additional 5,495 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in Regeneron Pharmaceuticals by 16.8% during the first quarter. Tidal Investments LLC now owns 4,955 shares of the biopharmaceutical company’s stock valued at $4,774,000 after purchasing an additional 711 shares during the period. 83.31% of the stock is owned by institutional investors and hedge funds.

About Regeneron Pharmaceuticals

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.