Citigroup Initiates Coverage on Regeneron Pharmaceuticals with a "Neutral" Rating
- Citigroup sets a price target of $895 for Regeneron Pharmaceuticals (NASDAQ:REGN), indicating potential growth.
- Upcoming clinical data readouts could keep investor interest in Regeneron's pipeline over the next 12 to 24 months.
- Challenges with Eylea could impact Regeneron's growth, despite the positive outlook for Eylea-HD.
On November 13, 2024, Citigroup initiated coverage on Regeneron Pharmaceuticals (NASDAQ:REGN) with a "Neutral" rating. Regeneron, a biotechnology company, focuses on the discovery, development, and commercialization of medicines for serious diseases. It competes with other pharmaceutical giants like Amgen and Biogen. At the time of Citigroup's announcement, Regeneron's stock price was $804.33, as reported by StreetInsider.
Citi set a price target of $895 for Regeneron, indicating potential growth from its current price. The analyst highlights that upcoming clinical data readouts are expected to keep investors interested over the next 12 to 24 months. This suggests that Regeneron's pipeline could offer promising developments, which might influence the stock's future performance.
Despite the positive outlook for Eylea-HD, challenges with the standard Eylea could impact the franchise's growth. Eylea is a key product for Regeneron, and any decline in its performance could affect the company's overall growth trajectory. Investors should monitor how these challenges unfold and their impact on Regeneron's financial health.
Regeneron's stock price has seen fluctuations, trading as low as $803.33 and as high as $823.56 today. Over the past year, the stock reached a high of $1,211.20 and a low of $784.96. This volatility reflects the market's response to various factors, including product performance and broader market conditions.
With a market capitalization of approximately $86.93 billion, Regeneron remains a significant player in the biotechnology sector. The trading volume for the day is 589,367 shares, indicating active investor interest. As the company navigates its challenges and opportunities, its stock performance will be closely watched by market participants.
| Symbol | Price | %chg |
|---|---|---|
| 207940.KS | 934000 | -0.32 |
| 068270.KS | 180400 | -6.15 |
| 196170.KQ | 301000 | -0.17 |
| 091990.KQ | 75900 | 0 |
Wells Fargo Upgrades Regeneron Pharmaceuticals to Overweight
- Wells Fargo has upgraded Regeneron Pharmaceuticals to Overweight from Neutral and raised the price target from $1,050 to $1,125.
- Regeneron's recent FDA approval for a label expansion of Kevzara highlights the company's innovative approach in addressing unmet medical needs.
- The company's strong market position is reflected in its stock performance, with a 52-week high of $1,016.24 and a market capitalization of approximately $109.51 billion.
Wells Fargo's recent upgrade of Regeneron Pharmaceuticals (NASDAQ:REGN) to Overweight, with a raised price target from $1,050 to $1,125, reflects a positive outlook on the company's future performance. Regeneron, a biotechnology firm known for its innovative treatments in various therapeutic areas, has shown significant progress, particularly in the development and expansion of its drug portfolio. This adjustment by Wells Fargo comes at a time when REGN's stock is trading around $1,010.54, indicating a strong market position and investor confidence.
The optimism surrounding Regeneron's stock is further supported by the company's recent achievements, notably the FDA approval for a label expansion of Kevzara, a drug developed in partnership with Sanofi. This approval allows Kevzara to be used for treating polyarticular juvenile idiopathic arthritis (pJIA) in patients weighing 63 kilograms or more. Kevzara's label expansion into pediatric care, particularly for a condition as debilitating as pJIA, not only broadens the drug's market potential but also underscores Regeneron's commitment to addressing unmet medical needs.
The FDA's decision is based on comprehensive studies demonstrating Kevzara's efficacy and safety for this new patient demographic. Previously approved for adult rheumatoid arthritis, Kevzara's proven effectiveness and safety profile have now been extended to children suffering from pJIA, a significant step forward in pediatric rheumatology. This development is expected to have a positive impact on Regeneron's financial performance, as it opens up new revenue streams and strengthens the company's position in the biopharmaceutical industry.
Moreover, the stock's recent performance, with a trading range that reached a 52-week high of $1,016.24, reflects investor optimism and the market's positive reception to Regeneron's strategic initiatives. With a market capitalization of approximately $109.51 billion and a steady increase in stock price, Regeneron is well-positioned for continued growth. The company's focus on expanding its drug portfolio and entering new therapeutic areas is likely to drive its stock performance in the future, aligning with Wells Fargo's upgraded rating and price target adjustment.
Regeneron Posts Strong Q4 Earnings
Regeneron Pharmaceuticals (NASDAQ:REGN) announced its fourth-quarter earnings, which exceeded expectations.
For the fourth quarter, Regeneron reported an adjusted earnings per share (EPS) of $11.86, surpassing the consensus estimate of $10.62. The company's revenue for the quarter was $3.43 billion, exceeding analysts' expectations of $3.27 billion.
Eylea net sales for the company amounted to $1.34 billion, which did not meet the anticipated $1.46 billion by Wall Street. However, Dupixent net sales were $2.49 billion, slightly exceeding the forecast of $2.47 billion.
