UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Removes PT on Regeneron Pharmaceuticals Ahead of Conference Call - Regeneron Pharmaceuticals (NASDAQ:REGN)

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In a report published Tuesday, Morgan Stanley analyst Matthew Harrison reiterated an Equal-Weight rating on

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Regeneron Pharmaceuticals

(NASDAQ: REGN), but removed the $310.00 price target.In the report, Morgan Stanley noted, “We believe positive data is already priced into REGN and expect minimal impact. While there could be some investor enthusiasm around the CV data, we do not believe alirocumab could differentiate itself from evolocumab on such a small study and further believe any positive CV data would be viewed as a class effect. Our ~$2B in 2020E WW alirocumab sales already reflects positive LDL lowering data, though we note positive outcomes data could double our ests. We look forward to any additional details on Regeneron and Sanofi's 8:30 AM EST Tuesday conference call.”Regeneron Pharmaceuticals closed on Friday at $350.46.