Morgan Stanley Remains a Hold on Regeneron (REGN)

By Ryan Adsit

Morgan Stanley analyst Matthew Harrison maintained a Hold rating on Regeneron (REGNResearch Report) today and set a price target of $409.00. The company’s shares closed last Wednesday at $517.67, close to its 52-week high of $525.91.

According to TipRanks.com, Harrison is a 5-star analyst with an average return of 7.6% and a 54.5% success rate. Harrison covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Global Blood Therapeutics, and Alexion Pharmaceuticals.

Currently, the analyst consensus on Regeneron is a Moderate Buy with an average price target of $478.72, which is a -8.9% downside from current levels. In a report issued on March 31, Wolfe Research also initiated coverage with a Hold rating on the stock with a $455.00 price target.

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Based on Regeneron’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.17 billion and net profit of $792 million. In comparison, last year the company earned revenue of $1.93 billion and had a net profit of $820 million.

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of REGN in relation to earlier this year. Most recently, in February 2020, George Sing, a Director at REGN sold 2,500 shares for a total of $1,150,000.

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Regeneron Pharmaceuticals, Inc. is a biotechnology company, which engages in the discovery, invention, development, manufacture, and commercialization of medicines. It product portfolio includes the following brands: EYLEA, Dupixent, Praluent, Kevzara, Libtayo, ARCALYST, and ZALTRAP. The company was founded by Alferd G. Gilman, Leonard S. Schleifer, and Eric M. Shooter on January 8, 1988 and is headquartered in Tarrytown, NY.