Jefferies Maintains Buy on Regeneron After Positive Data

Jefferies & Company has published a research report on Regeneron Pharmaceuticals REGN after after Ophthotech data was reported. In the report, Jefferies writes, "Ophthotech, a privately-held biotech, reported positive PIIb data earlier this morning with the combination of Fovista and Lucentis v. Lucentis alone. Given strong appreciation in REGN shares, any news of upcoming competition may lead to weakness in REGN shares/possible profit taking. However, we believe that Fovista (if/when approved) could be administered with any anti-VEGF agent including Eylea." Jefferies maintains its Buy rating and $161 price target on Regeneron, which is currently trading down $7.08 from yesterday's $127.85 closing price.