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Deutsche Bank Raises Regeneron's Price Target To $425

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Regeneron (NASDAQ: REGN) moved higher on the Tuesday session to top at $337 from the $313 open. The stock faded towards the later part of the session.

In a mid-day note on Tuesday, Deutsche Bank reiterates its buy rating, and raised their price target from $410 to $425.

Deutsche Bank mentions the solid earnings results and the beat on expectations for Regeneron's highest grossing drug, Eylea:

“Eylea 2Q sales in the US were $415M vs. $410M consensus. In 1Q'14 the company did $359M in Eylea Us sales. Since 1Q'14 sales were impacted by weather and inventory this growth was expected in 2Q. The co reaffirmed 2014 full year guidance at $1.7-$1.8B. We note that this guidance means ~$925-$1025M sales in 2H'14 vs. ~$775M sales in 1H'14. Per our calc this suggests ~$50-$150M incremental sales in DME in 2H'14.”

Latest Ratings for REGN

DateFirmActionFromTo
Mar 2020Argus ResearchMaintainsBuy
Mar 2020OppenheimerMaintainsOutperform
Mar 2020CFRADowngradesBuyHold

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Posted-In: Deutsche BankAnalyst Color Price Target Reiteration Analyst Ratings

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