UPDATE: Credit Suisse Initiates Regeneron Pharmaceutical at Outperform

Credit Suisse initiales coverage on Regeneron Pharmaceutical

with an Outperform rating and a $187 price target. Credit Suisse said, "The primary value driver remains quarterly sales of Eylea. Proposed legislation regulating compounding pharmacies, a permanent J code in January and the launch in RVO could all help boost sales. Competitor data for Amgen's AMG145 (anti-PCSK9) and Ophthotech's Fovista have all recently been disclosed, and key clinical data for Regeneron are limited in the near term." Regeneron Pharmaceutical closed at $144.90 on Monday.