Regeneron Pharmaceuticals Reboots After UBS Upgrade

em>Joel Elconin is the co-host of

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Regeneron Pharmaceuticals

shares are trading higher by $31.60 at $531.59 in Tuesday's session. Besides a strong rally in the broad market, an UBS upgrade from Sell to Buy has sparked a rally in the issue. Before today's rally, Regeneron ended Friday's session at $499.99, which was less than $20 from its flash crash low of $480.50. While the broad market and many other issues have rebounded nicely from those lows, Regeneron was much closer to the panc low than it was its recovery high of $547.15. After a higher open, ($514.88), it only declined to $510.13 before resuming its rally. So far, it has found intraday resistance ahead of its August 31 high ($534.72), only reaching $534 before retreating to its current level.