Piper Sandler Initiates Coverage on Regeneron Pharmaceuticals (NASDAQ:REGN)

Stock analysts at Piper Sandler began coverage on shares of Regeneron Pharmaceuticals (NASDAQ:REGN) in a research report issued to clients and investors on Tuesday. The firm set an “overweight” rating and a $875.00 price target on the biopharmaceutical company’s stock. Piper Sandler’s price objective points to a potential upside of 16.78% from the stock’s current price.

REGN has been the topic of a number of other research reports. Morgan Stanley increased their price objective on shares of Regeneron Pharmaceuticals from $768.00 to $769.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. Evercore increased their price target on shares of Regeneron Pharmaceuticals from $750.00 to $875.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Cantor Fitzgerald boosted their price objective on shares of Regeneron Pharmaceuticals from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Guggenheim increased their price objective on Regeneron Pharmaceuticals from $865.00 to $975.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Finally, Bank of America raised Regeneron Pharmaceuticals from an “underperform” rating to a “buy” rating and lifted their target price for the company from $627.00 to $860.00 in a research note on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $805.43.

Regeneron Pharmaceuticals Price Performance

Regeneron Pharmaceuticals stock opened at $749.29 on Tuesday. The business’s fifty day moving average is $765.00 and its two-hundred day moving average is $709.34. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.39 and a current ratio of 4.13. The firm has a market cap of $79.21 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.98 and a beta of 0.40. Regeneron Pharmaceuticals has a 52 week low of $476.49 and a 52 week high of $821.11.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Friday, January 30th. The biopharmaceutical company reported $11.44 earnings per share for the quarter, beating analysts’ consensus estimates of $10.74 by $0.70. Regeneron Pharmaceuticals had a return on equity of 13.04% and a net margin of 31.41%.The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period last year, the company posted $12.07 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts forecast that Regeneron Pharmaceuticals will post 35.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Jason Pitofsky sold 2,036 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $778.52, for a total value of $1,585,066.72. Following the sale, the senior vice president directly owned 4,272 shares in the company, valued at $3,325,837.44. This trade represents a 32.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Huda Y. Zoghbi sold 1,638 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $781.33, for a total transaction of $1,279,818.54. Following the transaction, the director directly owned 1,703 shares in the company, valued at $1,330,604.99. The trade was a 49.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,274 shares of company stock worth $4,142,738 in the last ninety days. 7.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Regeneron Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. WPG Advisers LLC increased its position in shares of Regeneron Pharmaceuticals by 312.5% in the 4th quarter. WPG Advisers LLC now owns 33 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 25 shares in the last quarter. SHP Wealth Management acquired a new position in Regeneron Pharmaceuticals in the fourth quarter valued at about $26,000. Salomon & Ludwin LLC bought a new stake in shares of Regeneron Pharmaceuticals in the third quarter worth about $27,000. Titan Wealth CI Ltd bought a new stake in shares of Regeneron Pharmaceuticals in the fourth quarter worth about $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Regeneron Pharmaceuticals during the second quarter worth about $31,000. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc (NASDAQ: REGN) is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.