Regeneron Pharmaceuticals (NASDAQ:REGN) Rating Increased to Strong-Buy at Wolfe Research

Wolfe Research upgraded shares of Regeneron Pharmaceuticals (NASDAQ:REGN) to a strong-buy rating in a research report sent to investors on Thursday,Zacks.com reports.

Several other analysts have also weighed in on the company. StockNews.com lowered Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Royal Bank of Canada lowered their price objective on shares of Regeneron Pharmaceuticals from $1,260.00 to $1,215.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Cantor Fitzgerald restated a “neutral” rating and set a $1,015.00 target price on shares of Regeneron Pharmaceuticals in a research report on Wednesday, October 23rd. BMO Capital Markets reduced their price target on shares of Regeneron Pharmaceuticals from $1,300.00 to $1,190.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Barclays cut their price objective on Regeneron Pharmaceuticals from $1,080.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Regeneron Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $1,099.55.

Regeneron Pharmaceuticals Price Performance

Shares of NASDAQ:REGN opened at $756.81 on Thursday. Regeneron Pharmaceuticals has a 12 month low of $753.69 and a 12 month high of $1,211.20. The firm has a market capitalization of $83.17 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 3.04 and a beta of 0.15. The business’s 50 day simple moving average is $985.21 and its 200-day simple moving average is $1,032.97. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.28 and a quick ratio of 4.46.

Insider Activity at Regeneron Pharmaceuticals

In other Regeneron Pharmaceuticals news, CFO Christopher R. Fenimore sold 5,680 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 15,305 shares of the company’s stock, valued at approximately $18,447,575.65. The trade was a 27.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vestcor Inc increased its position in shares of Regeneron Pharmaceuticals by 3.1% in the third quarter. Vestcor Inc now owns 21,590 shares of the biopharmaceutical company’s stock worth $22,696,000 after acquiring an additional 654 shares in the last quarter. M&T Bank Corp increased its holdings in Regeneron Pharmaceuticals by 4.3% in the 3rd quarter. M&T Bank Corp now owns 5,480 shares of the biopharmaceutical company’s stock valued at $5,761,000 after purchasing an additional 224 shares in the last quarter. Groupama Asset Managment raised its position in Regeneron Pharmaceuticals by 7.0% in the third quarter. Groupama Asset Managment now owns 71,277 shares of the biopharmaceutical company’s stock valued at $74,929,000 after purchasing an additional 4,648 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Regeneron Pharmaceuticals by 4.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 86,004 shares of the biopharmaceutical company’s stock worth $90,411,000 after purchasing an additional 3,698 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Regeneron Pharmaceuticals in the third quarter worth about $9,908,000. 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.