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- 1 RGEN stock price: The company’s share price has experienced a recent rise after the quarterly reports were published.
- 2 The company has given an optimum return on equity in recent years
- 3 The current stock price is near an all-time high level, see the prediction below
The biotech company, Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) focuses on discovering, inventing, developing, manufacturing, and commercializing medicines. The company has a proprietary technology called VelociSuite that speeds up the drug development process. One of its technology, VelocImmun uses genetically-humanized mice to generate fully-human and bispecific antibodies optimized for therapeutic purposes.
Why the REGN Stock Price is Rising?
The REGN stock price surged up more than 16% since its quarterly reports were released in June 2023, which is undoubtedly great news for investors. The earnings reports reveal that the company has made a revenue growth of 10.53% per year on a year-on-year basis.
This revenue growth indicates the company’s strong financial performance. Regeneron Pharmaceuticals achieved an operating profit of $1.02B, resulting in an operating margin of 32%. Its net profits are positive, with a net margin of 30%. The optimum margins were an indication that the company was operating efficiently and could generate a strong profit despite the ongoing challenges in the market.
Profitability Ratios
This leads to positive profitability ratios, with a return on equity of 19.2% and a return on assets of 14%. The earnings per share (EPS) stands at $37, with a price-to-earnings (P.E.) ratio of 22.1.
Technical Analysis and Prediction of the RGEN Stock Price
The RGEN stock has a negative return of 21.6% in a year. The 52-week high is $847 and the 52-week low is $660. The stock started rising after publishing the earnings report in August. The same day, bulls made a gap-up head start, breaking a significant resistance level of $761. The stock made its all-time high of $847 in August of this year, after which some correction was seen.
At the time of this writing, the RGEN stock price is at the level of $836. The stock’s immediate support level is $800, while the resistance level is $842. The 50-day exponential average price is $813, while the 150-day average moving price is $781.
What is the price prediction?
The RGEN stock price prediction will be bullish as the bulls are not sustaining the continuous rejection. However, the bears at the resistance level are strong, so a good momentum will be required to break past it. The RSI is at 57, leaving space for an uptrend until it reaches its overbought level of 70.
Conclusion
Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) gave a good earnings report during August. Due to this, the stock rose making a gap up opening. The current price is near its all-time high and it is predicted that it can soon break the all-time high level.
Technical Levels
Resistance Levels: $842
Support Levels: $800, and $761
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
