Credit Suisse: Regeneron Now Worth $550/Share

In a report published Friday, Credit Suisse analysts maintained an Outperform rating on Regeneron Pharmaceuticals Inc REGN, while raising the price target from $400 to $550.

The analysts believe that the company is "still a strong growth story" in view of its "robust pipeline and deep discovery engine."

In the report Credit Suisse noted, "Eylea has quickly gained about half of the branded anti-VEGF market in the AMD space and is poised for the same rapid ascension in DME. We believe REGN can leverage this preferential position to successfully launch potential combinations with Eylea to answer competitive agents in development."

Regeneron's pipeline programs continue to yield impressive results and a number of programs are scheduled to be released in the latter half of 2015 and next year. These include:

1. Sarilumab in RA
2. Dupilumab in atopic dermatitis
3. Proof-of-concept data for REGN1908-1909
4. Initial data from its REGN1979 program

The Regeneron Genomics Center is likely to "drive future growth in the REGN's pipeline within the next two years, and we think it can produce new targets for therapeutics at an unparalleled rate," the analysts added.