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

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

Other analysts also recently issued reports about the stock. Robert W. Baird upgraded shares of Regeneron Pharmaceuticals from a neutral rating to an outperform rating and set a $410.00 price objective on the stock in a report on Wednesday, August 7th. Cowen set a $349.00 price objective on shares of Regeneron Pharmaceuticals and gave the company a hold rating in a report on Tuesday, October 8th. Bank of America began coverage on shares of Regeneron Pharmaceuticals in a report on Wednesday, October 16th. They issued a neutral rating and a $325.00 price objective on the stock. Guggenheim upgraded shares of Regeneron Pharmaceuticals from a neutral rating to a buy rating and lifted their price objective for the company from $355.00 to $403.00 in a report on Monday, September 23rd. Finally, BMO Capital Markets set a $344.00 price objective on shares of Regeneron Pharmaceuticals and gave the company a hold rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $392.06.

Shares of REGN opened at $341.79 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.11 and a current ratio of 2.91. Regeneron Pharmaceuticals has a twelve month low of $271.37 and a twelve month high of $442.00. The firm’s 50 day moving average price is $298.74 and its two-hundred day moving average price is $304.30. The firm has a market cap of $36.53 billion, a P/E ratio of 17.26, a PEG ratio of 1.46 and a beta of 1.14.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported $6.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.13 by $1.54. Regeneron Pharmaceuticals had a net margin of 28.13% and a return on equity of 24.85%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm posted $5.87 earnings per share. The business’s revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts anticipate that Regeneron Pharmaceuticals will post 18.91 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals declared that its Board of Directors has authorized a share buyback program on Tuesday, November 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

In related news, major shareholder Sanofi sold 172,904 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were 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 the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $340.44, for a total transaction of $340,440.00. Following the transaction, the director now owns 10,323 shares in the company, valued at $3,514,362.12. The disclosure for this sale can be found here. 11.84% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Accurate Investment Solutions Inc. acquired a new position in Regeneron Pharmaceuticals during the second quarter worth $31,000. HM Payson & Co. acquired a new position in Regeneron Pharmaceuticals during the second quarter worth $31,000. Bridger Capital Management LLC acquired a new position in Regeneron Pharmaceuticals during the third quarter worth $30,000. Coastal Capital Group Inc. acquired a new position in Regeneron Pharmaceuticals during the second quarter worth $38,000. Finally, Focused Wealth Management Inc increased its holdings in Regeneron Pharmaceuticals by 1,333.3% during the second quarter. Focused Wealth Management Inc now owns 129 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 66.56% of the company’s stock.

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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Analyst Recommendations for Regeneron Pharmaceuticals (NASDAQ:REGN)

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