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

Canaccord Genuity Group lowered shares of Regeneron Pharmaceuticals (NASDAQ:REGN - Free Report) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley lowered their price target on Regeneron Pharmaceuticals from $1,235.00 to $1,184.00 and set an "overweight" rating on the stock in a research report on Friday, November 1st. JPMorgan Chase & Co. cut their price target on shares of Regeneron Pharmaceuticals from $1,200.00 to $1,150.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. BMO Capital Markets dropped their target price on shares of Regeneron Pharmaceuticals from $1,300.00 to $1,190.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Piper Sandler reduced their price target on Regeneron Pharmaceuticals from $1,242.00 to $1,195.00 and set an "overweight" rating on the stock in a report on Friday, November 1st. Finally, StockNews.com cut Regeneron Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,052.90.

Regeneron Pharmaceuticals Price Performance

REGN stock traded down $25.39 during midday trading on Tuesday, reaching $714.62. The company had a trading volume of 907,724 shares, compared to its average volume of 560,812. The firm has a 50-day moving average price of $839.04 and a 200-day moving average price of $1,000.86. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.28 and a quick ratio of 4.46. The company has a market capitalization of $78.53 billion, a P/E ratio of 17.68, a P/E/G ratio of 2.19 and a beta of 0.08. Regeneron Pharmaceuticals has a 1 year low of $712.30 and a 1 year high of $1,211.20.

Institutional Trading of Regeneron Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. &PARTNERS purchased a new position in Regeneron Pharmaceuticals in the 2nd quarter worth about $627,000. Cornerstone Wealth Group LLC lifted its position in Regeneron Pharmaceuticals by 2.9% during the second quarter. Cornerstone Wealth Group LLC now owns 3,718 shares of the biopharmaceutical company's stock valued at $3,908,000 after purchasing an additional 104 shares during the period. Catalina Capital Group LLC boosted its holdings in Regeneron Pharmaceuticals by 20.8% in the second quarter. Catalina Capital Group LLC now owns 302 shares of the biopharmaceutical company's stock worth $317,000 after purchasing an additional 52 shares during the last quarter. Premier Path Wealth Partners LLC grew its position in Regeneron Pharmaceuticals by 11.1% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 620 shares of the biopharmaceutical company's stock worth $651,000 after purchasing an additional 62 shares during the period. Finally, Everhart Financial Group Inc. raised its stake in Regeneron Pharmaceuticals by 14.8% during the 2nd quarter. Everhart Financial Group Inc. now owns 550 shares of the biopharmaceutical company's stock valued at $578,000 after buying an additional 71 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.