In a report published Thursday, Morgan Stanley analyst Matthew Harrison reiterated an Equal-Weight rating on Regeneron Pharmaceuticals Inc REGN, but removed the $310.00 price target.
In the report, Morgan Stanley noted, “We hosted two retina specialists to discuss trends in DME treatment: One physician represented a large multicenter suburban practice (~10% DME pts) while the other operated a single center urban practice (~50% DME pts). Both physicians completed ~100 intravitreal injections/mo, accepted most insurances (incl. Medicare / Medicaid) and had similar patient volumes. Laser represented ~10% of volumes and the physicians indicated it was unlikely to move lower. Steroids make up a small portion of the remaining 90% of volume with anti-VEGF the sig. majority of all drugs used in DME.”
Regeneron Pharmaceuticals Inc closed on Wednesday at $359.10.
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