'Highly Compelling' Eye Drug Data Has Wall Street Stampeding To Buy This 'Large Cap Growth Story.' Even A

Morgan Stanley upgraded Regeneron Pharmaceuticals Inc's (NASDAQ:REGN) to Overweight from Equal Weight with a price target of $851, up from $625.
The analyst says Eylea's "tail risk is removed" following yesterday's aflibercept 8 mg data, and Regeneron is now a "key large-cap biotech growth story."
The analysts still see a "significant upside" despite yesterday's rally, driven by a "clear growth trajectory at the company," as
- High-dose Eylea now becomes the agent of choice for front-line patients.
- Dupixent remains in the long-term growth position and will likely achieve $20 billion-plus in peak sales.
- Advancing the oncology pipeline can provide the next leg of growth, with a sizeable cash position providing significant optionality.
Morgan Stanley analyst now views Regeneron as the "preferred large-cap growth name."
SVB Leerink also raised the price target on Regeneron to $756 from $630 with a Market Perform rating on the shares following the "highly compelling" high dose Eylea results.
The analyst believes high dose Eylea will blunt the risk of biosimilar 2 mg Eylea competition and reduce Regeneron's reliance on oncology pipeline success to drive growth besides Dupixent.
Barclays maintains Regeneron with an Overweight and raises the price target from $735 to $815.
Jefferies has upgraded Regeneron from Underperform to Hold, with a price target of $675 from $536.
Price Action: REGN shares are up 4.38% at $739.80 on the last check Friday.

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