Regeneron Receives a Hold from Oppenheimer

By Jason Carr

Oppenheimer analyst Hartaj Singh initiated coverage with a Hold rating on Regeneron (NASDAQ: REGN) today. The company’s shares opened today at $397.46.

Singh wrote:

“We are initiating coverage of Regeneron Pharmaceuticals (REGN) with a Perform rating. We believe that the company has a balanced risk/reward profile going forward, with potential for upside. With Eylea as a significant cash generator—albeit with slowing sales growth—and three products at/nearing launch mode in Praluent, Dupixent (dupilumab) and Kevzara (sarilumab), Regeneron is potentially on its way to changing its commercial profile and doubling its current ~$5B revenue base in the next 5-6 years.”

According to TipRanks.com, Singh is a 1-star analyst with an average return of -2.7% and a 53.3% success rate. Singh covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Catabasis Pharmaceuticals, and Alexion Pharmaceuticals.

Currently, the analyst consensus on Regeneron is Moderate Buy and the average price target is $418.13, representing a 5.2% upside.

In a report issued on March 10, Jefferies also reiterated a Hold rating on the stock with a $357 price target.

Based on Regeneron’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $1.23 billion and quarterly net profit of $253 million. In comparison, last year the company earned revenue of $1.1 billion and had a net profit of $155 million.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of REGN in relation to earlier this year. Most recently, in January 2017, Sanofi, a Major Shareholder at REGN bought 87,298 shares for a total of $32,274,566.

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Regeneron Pharmaceuticals, Inc. operates as a biopharmaceutical company. It discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions. The company involves in marketing medicines for eye diseases, colorectal cancer and a rare inflammatory condition and has product candidates in development in other areas of high unmet medical need, including hypercholesterolemia, oncology, rheumatoid arthritis, asthma and atopic dermatitis. Its products include EYLEA (aflibercept) injection, which is used for the treatment of neovascular age related macular degeneration; ARCALYST (rilonacept), which is used for the treatment of Cryopyrin-Associated Periodic Syndrome, including Familial Cold Auto-inflammatory Syndrome and Muckle-Wells Syndrome; and PRALUENT (alirocumab) Injection for treatment of adults with heterozygous familial hypercholesterolemia or clinical atherosclerotic cardiovascular disease, who require additional lowering of LDL- C. Regeneron Pharmaceuticals was founded by Alferd G. Gilman, Leonard S. Schleifer and Eric M. Shooter on January 8, 1988 and is headquartered in Tarrytown, NY.