Merrill rates Regeneron neutral

Regeneron Pharmaceuticals Inc. was rated at neutral by Merrill Lynch analyst Hari Sambasivam after the company posted uneventful second-quarter results. The company posted revenues of $19.3 million and earnings per share of ($0.41) compared to the analyst's estimates for $17.1 million and ($0.60), respectively. Higher than expected contract manufacturing revenues coupled with lower research and development spending were cited as reasons for the difference. Shares of the Tarrytown, N.Y.-based biotechnology company were up 37 cents, or 2.72%, at $13.96, on volume of 250,773 shares versus the three-month running average of 373,363 shares. (Nasdaq: REGN)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.