UPDATE: Jefferies Raises PT to $1111 on Regeneron Pharmaceuticals

Jefferies reiterates its Buy rating on Regeneron Pharmaceuticals (NASDAQ: REGN) and raises its price target to $111 from $75 a share on in-line data and DME opportunity.

Jefferies says, "2-yr VIEW data at Bascom-Palmer were generally in-line with our expectations with expert commentaries on Eylea's outlook in AMD and also consistent with our assumptions and recent survey results anticipating meaningful Eylea mkt share gains. We are increasing our PT to $111 from $75 largely on increased DME sales ests driven by increased adoption."

REGN closed at $96.86 a share on Friday.