Barclays Starts Regeneron Pharma (REGN) at Overweight

Barclays analyst Eliana Merle initiates coverage on Regeneron Pharma (NASDAQ: REGN) with a Overweight rating and a price target of $923.00.

The analyst comments: "We initiate coverage of REGN with an Overweight rating and a $923 price target. We see Dupixent indication expansion as an underappreciated tailwind, for a product with sizable operating leverage. While there exist headwinds for the Eylea franchise, we expect REGN's overall portfolio growth outpaces this. We see top & bottom line beats ahead as well as a rich pipeline of readouts over the next 1-2 years to support upside. We see LAG3 as an important catalyst and success as likely in metastatic melanoma Ph3 in 1H.
REGN is a large-cap commercial-stage biotech company with a portfolio of commercial & clinical programs. Key products include Eylea/Eylea HD in retinal disease and Dupixent in allergic/inflammatory conditions. REGN focuses primarily on biologic (leader in antibody development)/genetic drug development and has several key platform technologies incorporated into its VelociSuite platform, including VelocImmune for fully humanized monoclonal antibody development and the Regeneron Genetics Center for genetics/proteomics data analysis for target identification. REGN currently has 12 FDA-approved medicines and ~45 clinical development programs both wholly-owned and partnered across its six core therapeutic areas—ophthalmology, immunology & inflammation, oncology & heme/onc, hematology, cardiovascular & metabolic disease, and neurology & rare disease."

For an analyst ratings summary and ratings history on Regeneron Pharma click here. For more ratings news on Regeneron Pharma click here.

Shares of Regeneron Pharma closed at $764.93 yesterday.

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