Citigroup Upgrades Regeneron Pharmaceuticals (NASDAQ:REGN) to “Hold”

Citigroup upgraded shares of Regeneron Pharmaceuticals (NASDAQ:REGN) to a hold rating in a research report released on Wednesday,Zacks.com reports.

A number of other research firms also recently issued reports on REGN. TD Cowen raised their price objective on shares of Regeneron Pharmaceuticals from $1,030.00 to $1,200.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Oppenheimer decreased 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 research note on Wednesday, November 6th. JPMorgan Chase & Co. decreased their target price on shares of Regeneron Pharmaceuticals from $1,200.00 to $1,150.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Barclays decreased their target price on shares of Regeneron Pharmaceuticals from $1,080.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Finally, Leerink Partnrs cut shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,099.55.

Regeneron Pharmaceuticals Stock Performance

REGN opened at $756.81 on Wednesday. The company has a current ratio of 5.28, a quick ratio of 4.46 and a debt-to-equity ratio of 0.09. The company has a market cap of $83.17 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 3.04 and a beta of 0.15. The company’s 50 day moving average is $985.21 and its 200 day moving average is $1,032.97. Regeneron Pharmaceuticals has a 12-month low of $753.69 and a 12-month high of $1,211.20.

Insider Activity at Regeneron Pharmaceuticals

In related news, CFO Christopher R. Fenimore sold 5,680 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the completion of the transaction, the chief financial officer now directly owns 15,305 shares of the company’s stock, valued at approximately $18,447,575.65. This trade represents a 27.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vestcor Inc boosted its stake in Regeneron Pharmaceuticals by 3.1% during the third quarter. Vestcor Inc now owns 21,590 shares of the biopharmaceutical company’s stock worth $22,696,000 after buying an additional 654 shares during the period. M&T Bank Corp boosted its stake in Regeneron Pharmaceuticals by 4.3% during the third quarter. M&T Bank Corp now owns 5,480 shares of the biopharmaceutical company’s stock worth $5,761,000 after buying an additional 224 shares during the period. Groupama Asset Managment boosted its stake in Regeneron Pharmaceuticals by 7.0% during the third quarter. Groupama Asset Managment now owns 71,277 shares of the biopharmaceutical company’s stock worth $74,929,000 after buying an additional 4,648 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Regeneron Pharmaceuticals by 4.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 86,004 shares of the biopharmaceutical company’s stock worth $90,411,000 after buying an additional 3,698 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in Regeneron Pharmaceuticals during the third quarter worth $9,908,000. 83.31% of the stock is 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.