Chardan Capital Downgrades Regeneron Pharmaceuticals Inc (REGN) on Back of Limited Upside
In a research report released today, Chardan Capital analyst Gbola Amusa downgraded shares of Regeneron Pharmaceuticals Inc (NASDAQ:REGN) from a Buy to a Hold raring, while keeping the price target at $565, which implies an upside of 8% from current levels.
Amusa explained, “With the stock at 95% of our price target of $565, and with our view in recent months to be more selective in the biotech space, we now downgrade REGN from Buy to Neutral. We maintain a positive bias on the shares and see risk we could be premature in our downgrade, given our long-term expectations for REGN’s cholesterol and ophthalmology franchises relative to consensus. We expect earnings momentum to continue in the long term but see less scope for REGN outperformance in the near term.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Gbola Amusa MD CFA has a total average return of 11.7% and a 61.8% success rate. CFA has a 6.4% average return when recommending REGN, and is ranked #477 out of 3743 analysts.
Out of the 18 analysts polled by TipRanks, 12 rate Regeneron Pharmaceuticals stock a Buy, while 6 rate the stock a Hold. With a downside potential of 5.8%, the stock’s consensus target price stands at $491.60.