Regeneron Pharmaceuticals (NASDAQ:REGN) Downgraded to “Hold” Rating by Canaccord Genuity Group

Regeneron Pharmaceuticals (NASDAQ:REGN) was downgraded by Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

REGN has been the subject of several other reports. Wells Fargo & Company lowered their price objective on shares of Regeneron Pharmaceuticals from $1,200.00 to $1,050.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. BMO Capital Markets decreased their target price on Regeneron Pharmaceuticals from $1,300.00 to $1,190.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Leerink Partners reaffirmed a “market perform” rating and set a $1,077.00 price target (down from $1,175.00) on shares of Regeneron Pharmaceuticals in a research report on Tuesday, September 24th. Oppenheimer reduced their target price on shares of Regeneron Pharmaceuticals from $1,150.00 to $1,000.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Royal Bank of Canada lowered their price target on Regeneron Pharmaceuticals from $1,260.00 to $1,215.00 and set an “outperform” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,052.90.

Regeneron Pharmaceuticals Price Performance

REGN stock opened at $714.62 on Tuesday. The stock has a market capitalization of $78.53 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 2.19 and a beta of 0.08. The company has a quick ratio of 4.46, a current ratio of 5.28 and a debt-to-equity ratio of 0.09. Regeneron Pharmaceuticals has a 52-week low of $712.30 and a 52-week high of $1,211.20. The stock’s fifty day simple moving average is $833.09 and its 200-day simple moving average is $998.86.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Sachetta LLC lifted its stake in 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 purchasing an additional 10 shares during the last quarter. Adirondack Trust Co. lifted its holdings in shares of Regeneron Pharmaceuticals by 2.4% during the third quarter. Adirondack Trust Co. now owns 431 shares of the biopharmaceutical company’s stock valued at $453,000 after purchasing an additional 10 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Regeneron Pharmaceuticals by 1.1% during the third quarter. UMB Bank n.a. now owns 908 shares of the biopharmaceutical company’s stock valued at $955,000 after purchasing an additional 10 shares during the last quarter. Catalyst Financial Partners LLC boosted its position in shares of Regeneron Pharmaceuticals by 3.8% in the 2nd quarter. Catalyst Financial Partners LLC now owns 326 shares of the biopharmaceutical company’s stock valued at $343,000 after purchasing an additional 12 shares during the period. Finally, Trust Co. of Vermont increased its stake in Regeneron Pharmaceuticals by 8.3% in the 3rd quarter. Trust Co. of Vermont now owns 157 shares of the biopharmaceutical company’s stock worth $165,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 83.31% of the company’s stock.

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.