H.C. Wainwright Initiates a Buy Rating on Regeneron (REGN)

In a report released today, Michael King from H.C. Wainwright initiated coverage with a Buy rating on Regeneron (REGNResearch Report) and a price target of $703.00. The company’s shares closed last Monday at $542.70.

According to TipRanks.com, King is a 5-star analyst with an average return of 28.8% and a 57.9% success rate. King covers the Healthcare sector, focusing on stocks such as Werewolf Therapeutics, Inc., Intellia Therapeutics, and Agios Pharma.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Regeneron with a $637.40 average price target, which is a 12.7% upside from current levels. In a report issued on June 14, Argus Research also maintained a Buy rating on the stock with a $590.00 price target.

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Regeneron’s market cap is currently $57.82B and has a P/E ratio of 15.60. The company has a Price to Book ratio of 4.90.

Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of REGN in relation to earlier this year.

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Founded in 1988, Regeneron Pharmaceuticals, Inc. is a New York-based biotechnology company, which discovers, develops, manufactures, and commercializes medicines for the treatment of various medical conditions. Its product portfolio includes the following brands: EYLEA, Dupixent, Praluent, Kevzara, Libtayo, ARCALYST, and ZALTRAP.