UPDATE: Goldman Sachs Raises PT to $170 on Regeneron Pharmaceuticals on Eylea EU Approval
Goldman Sachs reiterated its Buy rating on Regeneron Pharmaceuticals (NASDAQ: REGN) and increased its price target from $168 to $170.
Goldman Sachs noted, "FDA approved REGN's Eylea for a new eye disease indication (central retinal vein occlusion, CRVO), in line with our expectation. Eylea was approved last year for the wet AMD indication. We model 2013 US Eylea sales of $1.2bn (62% yoy growth) of which CRVO contributes $104mn."
Regeneron Pharmaceuticals closed at $145.09 on Friday.
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