Regeneron Pharmaceuticals (NASDAQ:REGN) Reaches New 52-Week Low Following Analyst Downgrade

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)’s share price hit a new 52-week low during trading on Friday after Wells Fargo & Company lowered their price target on the stock from $1,050.00 to $900.00. Wells Fargo & Company currently has an overweight rating on the stock. Regeneron Pharmaceuticals traded as low as $691.00 and last traded at $698.34, with a volume of 492017 shares changing hands. The stock had previously closed at $733.59.

Several other equities research analysts have also recently issued reports on REGN. Truist Financial lowered their target price on shares of Regeneron Pharmaceuticals from $1,126.00 to $1,004.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley lowered their price target on shares of 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. Leerink Partners reiterated a “market perform” rating and issued a $1,077.00 price objective (down previously from $1,175.00) on shares of Regeneron Pharmaceuticals in a report on Tuesday, September 24th. Citigroup assumed coverage on Regeneron Pharmaceuticals in a report on Thursday, November 14th. They set a “neutral” rating and a $895.00 target price on the stock. Finally, StockNews.com cut Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, six have assigned 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.com, Regeneron Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $1,037.33.

Institutional Trading of Regeneron Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in REGN. International Assets Investment Management LLC grew its holdings in Regeneron Pharmaceuticals by 86,013.3% during the 3rd quarter. International Assets Investment Management LLC now owns 880,939 shares of the biopharmaceutical company’s stock worth $926,078,000 after acquiring an additional 879,916 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in shares of Regeneron Pharmaceuticals during the third quarter worth $127,489,000. Icon Wealth Advisors LLC grew its stake in shares of Regeneron Pharmaceuticals by 18,342.0% during the third quarter. Icon Wealth Advisors LLC now owns 75,981 shares of the biopharmaceutical company’s stock worth $79,874,000 after purchasing an additional 75,569 shares in the last quarter. State Street Corp increased its holdings in Regeneron Pharmaceuticals by 1.3% in the third quarter. State Street Corp now owns 4,902,404 shares of the biopharmaceutical company’s stock valued at $5,153,603,000 after buying an additional 61,277 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Regeneron Pharmaceuticals by 12.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 540,293 shares of the biopharmaceutical company’s stock valued at $567,864,000 after buying an additional 59,769 shares in the last quarter. Institutional investors and hedge funds own 83.31% of the company’s stock.

Regeneron Pharmaceuticals Price Performance

The stock has a fifty day simple moving average of $751.44 and a 200-day simple moving average of $962.58. The company has a market capitalization of $76.58 billion, a PE ratio of 17.25, a P/E/G ratio of 2.19 and a beta of 0.10. The company has a current ratio of 5.28, a quick ratio of 4.46 and a debt-to-equity ratio of 0.09.

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.