BTIG Believes Regeneron (NASDAQ: REGN) Still Has Room to Grow

By Carrie Williams

In a report released today, Dane Leone from BTIG reiterated a Buy rating on Regeneron (NASDAQ: REGN), with a price target of $540. The company’s shares closed yesterday at $509.93, close to its 52-week high of $543.55.

According to TipRanks.com, Leone is a 5-star analyst with an average return of 17.9% and a 72.9% success rate. Leone covers the Healthcare sector, focusing on stocks such as Corvus Pharmaceuticals Inc, Trillium Therapeutics, and Ocular Therapeutix.

Currently, the analyst consensus on Regeneron is Moderate Buy and the average price target is $489.08, representing a -4.1% downside.

In a report issued on June 20, Canaccord Genuity also maintained a Buy rating on the stock with a $484 price target.

Based on Regeneron’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.32 billion and quarterly net profit of $249 million. In comparison, last year the company earned revenue of $1.21 billion and had a net profit of $196 million.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is neutral on the stock.

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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.