Royal Bank of Canada Cuts Regeneron Pharmaceuticals (NASDAQ:REGN) Price Target to $943.00

Regeneron Pharmaceuticals (NASDAQ:REGN) had its price objective cut by Royal Bank of Canada from $1,051.00 to $943.00 in a report published on Wednesday,Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently issued reports on REGN. Leerink Partners upgraded Regeneron Pharmaceuticals from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $762.00 to $834.00 in a research note on Wednesday, February 5th. Cantor Fitzgerald began coverage on shares of Regeneron Pharmaceuticals in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $695.00 price target on the stock. Citigroup reduced their price objective on shares of Regeneron Pharmaceuticals from $795.00 to $750.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Bank of America cut their price target on Regeneron Pharmaceuticals from $575.00 to $547.00 and set an “underperform” rating for the company in a report on Thursday, April 17th. Finally, Sanford C. Bernstein decreased their price objective on Regeneron Pharmaceuticals from $1,110.00 to $1,070.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $892.60.

Regeneron Pharmaceuticals Price Performance

Regeneron Pharmaceuticals stock opened at $605.61 on Wednesday. The stock has a market cap of $66.21 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.34 and a beta of 0.44. The company has a quick ratio of 3.95, a current ratio of 4.73 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average price is $626.49 and its two-hundred day moving average price is $711.45. Regeneron Pharmaceuticals has a 52 week low of $525.99 and a 52 week high of $1,211.20.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $8.22 earnings per share for the quarter, missing analysts’ consensus estimates of $8.83 by ($0.61). The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Regeneron Pharmaceuticals had a return on equity of 16.32% and a net margin of 31.07%. Regeneron Pharmaceuticals’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the firm posted $9.55 earnings per share. On average, equities analysts predict that Regeneron Pharmaceuticals will post 35.92 earnings per share for the current year.

Regeneron Pharmaceuticals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Tuesday, May 20th. Regeneron Pharmaceuticals’s payout ratio is 8.96%.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in shares of Regeneron Pharmaceuticals during the third quarter valued at approximately $6,364,000. Morse Asset Management Inc raised its stake in Regeneron Pharmaceuticals by 0.9% during the third quarter. Morse Asset Management Inc now owns 4,807 shares of the biopharmaceutical company’s stock valued at $5,053,000 after buying an additional 43 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in Regeneron Pharmaceuticals by 212.0% in the third quarter. Anchor Investment Management LLC now owns 858 shares of the biopharmaceutical company’s stock worth $902,000 after acquiring an additional 583 shares in the last quarter. Sculati Wealth Management LLC raised its position in shares of Regeneron Pharmaceuticals by 1.9% in the 3rd quarter. Sculati Wealth Management LLC now owns 2,047 shares of the biopharmaceutical company’s stock worth $1,970,000 after purchasing an additional 38 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its position in Regeneron Pharmaceuticals by 19.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 5,303 shares of the biopharmaceutical company’s stock valued at $5,575,000 after purchasing an additional 848 shares during the last quarter. Hedge funds and other institutional investors own 83.31% of the company’s stock.

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.