TARRYTOWN, NY—Marion McCourt, Executive Vice President of Commercial at Regeneron (NASDAQ:REGN) Pharmaceuticals, Inc. (NASDAQ:REGN), recently sold 1,000 shares of the company's common stock. The transaction, which took place on November 1, 2024, was executed at a price of $844.61 per share, totaling approximately $844,610.
In addition to the sale, McCourt exercised options to acquire 1,000 shares at a price of $381.4 per share, with the transaction also occurring on November 1. Following these transactions, McCourt holds 12,931 shares directly and 174 shares through a 401(k) plan.
The transactions were made under a pre-established trading plan in compliance with Rule 10b5-1(c), adopted on February 13, 2024.
In other recent news, Regeneron Pharmaceuticals has been the subject of several analyst notes. TD Cowen maintained a Buy rating on Regeneron shares, emphasizing the potential growth of Eylea HD and Dupixent, the company's treatments for eye diseases and various inflammatory conditions, respectively. TD Cowen also noted the undervaluation of Regeneron's pipeline, suggesting that key developments expected within the next six months could positively influence the company's valuation.
Meanwhile, BMO Capital Markets, Piper Sandler, and Leerink Partners all adjusted their price targets for Regeneron. BMO lowered its target to $1,190 from $1,300, citing concerns about Eylea and upcoming competition from Amgen (NASDAQ:AMGN) and Roche. Piper Sandler reduced its target to $1,195 from $1,242, due to slower-than-expected adoption of Eylea HD, and Leerink Partners cut its target to $880 from $1,077, reflecting recalibrated earnings expectations for the coming years.
Regeneron recently reported an 11% increase in total revenues for the third quarter, reaching $3.72 billion, largely driven by Dupixent's global sales. The company is currently developing around 40 clinical programs and expects interim results from a Phase II lung cancer study and pivotal data for itepekimab in COPD by 2025. These are the recent developments for Regeneron Pharmaceuticals.
InvestingPro Insights
The recent insider transaction at Regeneron Pharmaceuticals (NASDAQ:REGN) comes at a time when the company's stock is experiencing some volatility. According to InvestingPro data, Regeneron's stock has taken a significant hit over the last week, with a 1-week price total return of -10.62%. This decline is part of a broader trend, as the stock has fallen 18.17% over the past month and 22.63% over the last three months.
Despite these recent setbacks, Regeneron maintains a strong financial position. The company boasts a market capitalization of $89.22 billion and has demonstrated solid profitability with a gross profit margin of 50.75% for the last twelve months as of Q3 2024. Additionally, Regeneron's revenue growth remains positive, with a 10.65% increase in quarterly revenue for Q3 2024.
An InvestingPro Tip suggests that Regeneron's management has been aggressively buying back shares, which could be seen as a vote of confidence in the company's future prospects. Another InvestingPro Tip indicates that the stock is currently trading near its 52-week low, potentially presenting an opportunity for investors who believe in the company's long-term potential.
For those interested in a deeper analysis, InvestingPro offers 13 additional tips for Regeneron Pharmaceuticals, providing a comprehensive view of the company's financial health and market position.
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