UPDATE: Goldman Sachs Reiterates Buy Rating, Raises PT on Regeneron Pharmaceuticals on Strong Eylea Launch

In a report published Tuesday, Goldman Sachs analyst Terence Flynn reiterated a Buy rating on Regeneron Pharmaceuticals REGN, and raised the price target from $196.00 to $215.00. In the report, Flynn noted, “REGN was one of the best performing biotech stocks in 2012 (+209% vs. NBI +32%) due to the strong launch of Eylea for a type of eye disease (wet AMD), which drove the company to profitability. However, YTD shares have underperformed (+10% vs. NBI +17%) due to concerns regarding the potential competitive threat from AGN's DARPin (Ph2 data expected 2H13).” Regeneron Pharmaceuticals closed on Monday at $188.47.