Oppenheimer analyst Hartaj Singh maintained a Buy rating on Regeneron (REGN) yesterday and set a price target of $440. The company’s shares closed on Friday at $365.65.
Singh noted:
“We met with members of the REGN mgmt team (CFO and others) for an investor lunch on Nov. 30. During an upbeat and comprehensive conversation, we came away with higher conviction in our bull case on REGN: (1) sales momentum building in 2019E/20E, (2) earnings leverage coming into view (2019E still investment year potentially) and (3) a pipeline that is now potentially best-in-peer-group with intriguing I/O and COPD opportunities. We believe REGN is in the early innings of a pivotal re- rating of its share price and we stay bullish.”
According to TipRanks.com, Singh is a 3-star analyst with an average return of 2.6% and a 43.6% success rate. Singh covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Syndax Pharmaceuticals Inc, and Strongbridge Biopharma Plc.
Currently, the analyst consensus on Regeneron is a Hold with an average price target of $409.55.
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Based on Regeneron’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $595 million. In comparison, last year the company had a net profit of $388 million.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock.
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Regeneron Pharmaceuticals, Inc. engages in the discovery, invention, development, manufacture, and commercialization of medicines for the treatment of serious diseases. It products include the following brands: EYLEA, Dupixent, Praluent, Kevzara, 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.
