The stock of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is now priced at $592.68 and the shares are -27.25 points down or -4.4% lower compared to its previous closing price of $619.93. The stock had 1.018 million contracts set over the past session. REGN shares’ daily volume is compared to its average trading volume at 847192 shares. However, it has a float of 102 million and although its performance was -2.92% over the week, it’s one to watch. Analysts have given the REGN stock a yearly average price target of $674.63 per share. It means the stock’s upside potential is 13.83% with the REGN share price recently placing at $589.3 to $620. However, some brokerage firms have priced the stock below the average, including one that has called $550.
The shorts are running away from the Regeneron Pharmaceuticals, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the REGN shares have declined. Short interest in the stock represents just 1.58% of its float, but the volume has dropped by -288569. The volume of shorted shares dropped to 1.602 million from 1.89 million shares over the last two weeks. The average intraday trading volume has been 558734 shares, which means that days to cover moved to roughly 2.866339.
In the last trading session, Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) dropped by -$17.82 over the week and lost -$55.75 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $664.64. The stock recorded its established 52-week high on 07/20/20.
Since 09/27/19, the stock has traded to a low of $271.37 at 118.4%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.49. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Regeneron Pharmaceuticals, Inc.’s two-week RSI is 41.78. This suggests that the stock is neutral at the moment and that REGN shares’ price movement remains stable. The stochastic readings are equally revealing at 29.64% meaning the REGN share price is currently in overbought territory.
The technical chart shows that the REGN stock will likely settle at between $612.02 and $631.36 per share. However, if the stock dips below $581.32, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $569.96.
Currently, the stock is trading in the red of MACD, with a reading of -2.69. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at The Benchmark Company cut their recommendation for REGN from Buy to Hold in August 20 review. SunTrust analysts upgraded their recommendation of the stock from Hold to Buy while keeping its target price at $400 to $750 in a flash note released to investors on July 09. Wells Fargo seeing the improvements upgraded the stock from Equal Weight to Overweight on May 26, placing it at $559 to $734.
The average rating for the REGN equity is 2.11 and is currently gathering a bullish momentum. Of 27 analysts tracking Regeneron Pharmaceuticals, Inc. polled by Reuters, 12 rated REGN as a hold. The remaining 15 analysts were split evenly. However, the split wasn’t equal as a majority (15) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the REGN stock price is 17.49X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) will increase by about 7.07%, which will see them reach $2090 million. The company’s full-year revenues are, however, expected to increase by about 3.94%, up from $7860 million to $8170 million. REGN’s expected adjusted earnings should surge almost 6.75% to end up at $7.12 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 16.74% to record $28.8/share.