Analysts Raise Their Target Price for Regeneron in March

Analysts’ recommendations and target price

Wall Street analysts expect a potential upside of 6.79% for Regeneron Pharmaceuticals (REGN) based on the company’s closing price on March 27. Analysts have revised the company’s target price upward twice, from $417.27 in January to $428.86 in February and then to $430.24 in March.

The current consensus analyst recommendation on the stock is a “buy.”

Analysts Raise Their Target Price for Regeneron in March

Of the 23 analysts covering Regeneron Pharmaceuticals, four have given it “strong buys,” five have given it “buys,” 13 have given it “holds,” and one has given it a “sell.” The highest and lowest target price estimates for the company are $497 and $325, respectively.

On March 27, Regeneron Pharmaceuticals closed at $402.87, 0.68% lower than its previous closing price, 42.92% higher than its 52-week low of $281.89, and 8.86% lower than its 52-week high of $442. The company’s market cap is $44.44 billion.

Based on its closing price on March 27, Regeneron Pharmaceuticals has reported returns of -0.65% in the last week, -5.46% in the last month, and 18.27% in the last quarter. The company has reported returns of 3.25% in the last half year, 21.82% in the last year, and 7.86% year-to-date.

Recent developments

In its fourth quarter, Regeneron Pharmaceuticals reported revenue of $1.93 billion, a YoY (year-over-year) rise of 21.82% and $199.05 million higher than the consensus estimate. The company reported non-generally accepted accounting principles EPS of $6.84, a YoY rise of 30.78% and $1.24 higher than the consensus estimate.

On February 9, Regeneron Pharmaceuticals issued a press release announcing positive results from its Phase 3 PANORAMA trial evaluating the efficacy of early intervention with Eylea therapy in moderate to severe NPDR (non-proliferative diabetic retinopathy) indications. According to the press release, the FDA has set a target action date of May 13, 2019, for the supplemental biologics license application seeking approval for Eylea in NPDR indications.

On February 11, Regeneron Pharmaceuticals issued a press release announcing a 60% lower list price for Praluent in the United States, improving the chances of securing coverage for the drug.

However, on February 25, the company issued a press release announcing Regeneron Pharmaceuticals’ and Sanofi’s (SNY) opposition to a jury’s verdict of upholding two of Amgen’s (AMGN) Repatha patents. Amgen claims that these patents have been infringed by Praluent.