Loading...
Loading...
In a report published Friday, Bank of America analyst Ying Huang reiterated a Buy rating on
Regeneron PharmaceuticalsREGN, and raised the price target from $418.00 to $462.00.
In the report, Bank of America noted, “We are raising our sales estimates for REGN's two late-stage pipeline products following positive Phase 2b data for dupilumab in asthma (November 11), encouraging feedback on alirocumab from physicians at the annual meeting of the American Heart Association (AHA, November 15-19), and increased confidence in the pipeline post Sanofi's analyst meeting yesterday. Our 2020 sales estimate increases to $7.0B (from $6.4B). Adjusting the probability of success for dupilumab in asthma and longer-term sales projections for alirocumab, we derive a PO of $462 (from $418) based on a probability-adjusted NPV analysis. We continue to believe that REGN has one of the most robust pipelines and see upside from current levels.”
Regeneron Pharmaceuticals closed on Thursday at $406.00.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in