Regeneron Rallies Off Favorable Interim Data From Evinacumab Trial

Regeneron Pharmaceuticals

shares are trading higher by $9 at $407.93 in Wednesday's session. The catalyst for the rally is favorable interim data from Stage 2 proof concept trial of Evinacumab. After a flat open, it went south with broad market but found support just above Tuesday's low ($395), only reaching $395.14 before turning higher. So far, the issue has blasted into the $400 handle, with the current high standing at $408.35. If the rally continues there may additoanlr resistance at the trio of highs at the $411 area from late April.