Regeneron (REGN) Received its Third Buy in a Row

By Carrie Williams

After Evercore ISI and Piper Sandler gave Regeneron (NASDAQ: REGN) a Buy rating last month, the company received another Buy, this time from Canaccord Genuity. Analyst John Newman initiated coverage with a Buy rating on Regeneron yesterday and set a price target of $550.00. The company’s shares closed last Monday at $440.83.

According to TipRanks.com, Newman is a 5-star analyst with an average return of 10.5% and a 40.5% success rate. Newman covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Hutchison China MediTech, and Atara Biotherapeutics.

Currently, the analyst consensus on Regeneron is a Moderate Buy with an average price target of $465.00, implying a 2.8% upside from current levels. In a report issued on March 11, Oppenheimer also maintained a Buy rating on the stock with a $525.00 price target.

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Regeneron’s market cap is currently $48.5B and has a P/E ratio of 23.88. The company has a Price to Book ratio of 4.38.

Based on the recent corporate insider activity of 53 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. Last month, George Sing, a Director at REGN sold 2,500 shares for a total of $1,150,000.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.