UPDATE: Bank of America Raises PO to $172 on Regeneron Pharmaceuticals on EU Approval

Bank of America reiterated its Buy rating on Regeneron Pharmaceuticals

and increased its price objective from $168 to $172. Bank of America noted, "Following the EU's CHMP recommendation that Eylea be approved for treatment of wet AMD and FDA's approval of Eylea in a second eye disease on Friday, our model adjustments for these two indications raised our PO for REGN shares by $4 to $172. We had high expectations for both approval given our belief in Eylea's solid efficacy and safety results in clinical trials." Regeneron Pharmaceuticals closed at $145.09 on Friday.