Piper Jaffray Impressed By New Regeneron Drugs (REGN)

Piper Jaffray analysts Chad Messer and Edward Tenthoff visited Regeneron

yesterday, where they were impressed by the biotech company's new product lines. Piper Jaffray said, "Regeneron fits our thesis that well financed biotech companies with innovative drug launches over the next 2 years will re-populate large cap ranks and outperform." Regeneron has 3 drugs with multiple data readouts in the next one and a half years: Arcalyst, Aflibercept and VEGF Trap Eye. Piper Jaffray projects a $2.6 billion enterprise value for all three drugs. Regeneron also has a productive antibody pipeline funded by Sanofi. Regeneron is rated Outperform by Piper Jaffray, with a price target of $35.00. REGN is currently trading at $22.32.