Regeneron Pharmaceuticals (NASDAQ:REGN) Rating Lowered to Hold at Canaccord Genuity Group

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

A number of other equities research analysts have also weighed in on the stock. Leerink Partners reiterated a “market perform” rating and set a $1,077.00 price objective (down previously from $1,175.00) on shares of Regeneron Pharmaceuticals in a report on Tuesday, September 24th. Bank of America reaffirmed an “underperform” rating and set a $565.00 price target on shares of Regeneron Pharmaceuticals in a research note on Tuesday, December 10th. Royal Bank of Canada dropped their price objective on Regeneron Pharmaceuticals from $1,260.00 to $1,215.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. StockNews.com lowered Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Piper Sandler dropped their price target on Regeneron Pharmaceuticals from $1,242.00 to $1,195.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Regeneron Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $1,052.90.

Regeneron Pharmaceuticals Stock Performance

Shares of NASDAQ:REGN opened at $714.62 on Tuesday. The firm has a fifty day simple moving average of $833.09 and a two-hundred day simple moving average of $998.86. 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. The stock has a market capitalization of $78.53 billion, a P/E ratio of 17.68, a PEG ratio of 2.19 and a beta of 0.08.

Institutional Trading of Regeneron Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. State Street Corp increased its stake in Regeneron Pharmaceuticals by 1.3% in the 3rd quarter. State Street Corp now owns 4,902,404 shares of the biopharmaceutical company’s stock valued at $5,153,603,000 after purchasing an additional 61,277 shares in the last quarter. International Assets Investment Management LLC grew its stake in Regeneron Pharmaceuticals by 86,013.3% in the 3rd quarter. International Assets Investment Management LLC now owns 880,939 shares of the biopharmaceutical company’s stock valued at $926,078,000 after acquiring an additional 879,916 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Regeneron Pharmaceuticals by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 673,261 shares of the biopharmaceutical company’s stock valued at $707,759,000 after acquiring an additional 11,499 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Regeneron Pharmaceuticals by 12.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 540,293 shares of the biopharmaceutical company’s stock valued at $567,864,000 after acquiring an additional 59,769 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Regeneron Pharmaceuticals by 23.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 500,274 shares of the biopharmaceutical company’s stock valued at $525,804,000 after purchasing an additional 96,266 shares during the last quarter. 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.