Company Update (NASDAQ:REGN): Trading in Regeneron Pharmaceuticals Inc Common Stock Halted
Regeneron Pharmaceuticals Inc (NASDAQ:REGN) announced that NASDAQ has halted trading of the company’s common stock. The Endocrinologic and Metabolic Drugs Advisory Committee of the U.S. Food and Drug Administration (FDA) is meeting today to discuss the company’s Biologics License Application (BLA) for Praluent® (alirocumab) Injection. (Original Source)
Shares of Regeneron Pharmaceuticals closed yesterday at $526.09 . REGN has a 1-year high of $544 and a 1-year low of $269.50. The stock’s 50-day moving average is $490.64 and its 200-day moving average is $441.71.
On the ratings front, Regeneron Pharmaceuticals has been the subject of a number of recent research reports. In a report released yesterday, BMO analyst Jim Birchenough reiterated a Hold rating on REGN, with a price target of $381, which implies a downside of 27.6% from current levels. Separately, on May 21, Roth Capital’s Joseph Pantginis maintained a Hold rating on the stock and has a price target of $495.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jim Birchenough and Joseph Pantginis have a total average return of 40.0% and 11.5% respectively. Birchenough has a success rate of 63.9% and is ranked #18 out of 3614 analysts, while Pantginis has a success rate of 55.1% and is ranked #118.
In total, 3 research analysts have assigned a Hold rating and 7 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $532.00 which is 1.1% above where the stock closed yesterday.
Regeneron Pharmaceuticals Inc is a fully integrated biopharmaceutical company. It discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions.