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

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

A number of other brokerages have also commented on REGN. Royal Bank of Canada dropped their target price on Regeneron Pharmaceuticals from $1,260.00 to $1,215.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Leerink Partnrs lowered Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Wells Fargo & Company lowered their price objective on Regeneron Pharmaceuticals from $1,200.00 to $1,050.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Citigroup began coverage on Regeneron Pharmaceuticals in a research report on Thursday, November 14th. They issued a “neutral” rating and a $895.00 price objective on the stock. Finally, Morgan Stanley lowered their price objective on Regeneron Pharmaceuticals from $1,235.00 to $1,184.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Regeneron Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $1,052.90.

Regeneron Pharmaceuticals Price Performance

Shares of NASDAQ REGN opened at $714.62 on Tuesday. The business’s 50 day moving average price is $833.09 and its 200 day moving average price is $998.86. The firm has a market cap of $78.53 billion, a P/E ratio of 17.68, a P/E/G ratio of 2.19 and a beta of 0.08. 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 hedge funds have recently modified their holdings of the business. Sachetta LLC grew its holdings in shares of Regeneron Pharmaceuticals by 71.4% during the 2nd quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 10 shares during the period. Adirondack Trust Co. grew its holdings in shares of Regeneron Pharmaceuticals by 2.4% during the 3rd quarter. Adirondack Trust Co. now owns 431 shares of the biopharmaceutical company’s stock worth $453,000 after purchasing an additional 10 shares during the period. UMB Bank n.a. grew its holdings in shares of Regeneron Pharmaceuticals by 1.1% during the 3rd quarter. UMB Bank n.a. now owns 908 shares of the biopharmaceutical company’s stock worth $955,000 after purchasing an additional 10 shares during the period. Catalyst Financial Partners LLC grew its holdings in shares of Regeneron Pharmaceuticals by 3.8% during the 2nd quarter. Catalyst Financial Partners LLC now owns 326 shares of the biopharmaceutical company’s stock worth $343,000 after purchasing an additional 12 shares during the period. Finally, Trust Co. of Vermont grew its holdings in shares of Regeneron Pharmaceuticals by 8.3% during 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 during the period. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

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.