Regeneron Pharmaceuticals (NASDAQ:REGN) Coverage Initiated at Canaccord Genuity Group

Research analysts at Canaccord Genuity Group initiated coverage on shares of Regeneron Pharmaceuticals (NASDAQ:REGN) in a research note issued to investors on Tuesday,Benzinga reports. The brokerage set a “hold” rating and a $165.00 price target on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price objective indicates a potential downside of 76.91% from the company’s current price.

Several other research firms also recently weighed in on REGN. StockNews.com downgraded Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Leerink Partnrs downgraded Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Piper Sandler decreased their target price on Regeneron Pharmaceuticals from $1,242.00 to $1,195.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $1,015.00 target price on shares of Regeneron Pharmaceuticals in a research report on Wednesday, October 23rd. Finally, Bank of America reiterated an “underperform” rating and set a $565.00 target price on shares of Regeneron Pharmaceuticals in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,052.90.

Regeneron Pharmaceuticals Stock Down 3.4 %

Shares of REGN opened at $714.62 on Tuesday. The company has a market cap of $78.53 billion, a PE ratio of 17.68, a P/E/G ratio of 2.19 and a beta of 0.08. The business has a fifty day moving average of $833.09 and a 200 day moving average of $998.86. Regeneron Pharmaceuticals has a 52-week low of $712.30 and a 52-week high of $1,211.20. The company has a quick ratio of 4.46, a current ratio of 5.28 and a debt-to-equity ratio of 0.09.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in REGN. Rakuten Securities Inc. raised its holdings in Regeneron Pharmaceuticals by 380.0% in the third quarter. Rakuten Securities Inc. now owns 24 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 19 shares in the last quarter. Stephens Consulting LLC acquired a new position in shares of Regeneron Pharmaceuticals during the second quarter valued at about $26,000. Sachetta LLC increased its holdings in shares of 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 acquiring an additional 10 shares in the last quarter. FSA Wealth Management LLC acquired a new position in shares of Regeneron Pharmaceuticals during the third quarter valued at about $26,000. Finally, Family Firm Inc. acquired a new position in shares of Regeneron Pharmaceuticals during the second quarter valued at about $33,000. 83.31% of the stock is currently owned by institutional investors.

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.