Regeneron (REGN) PT Raised to $664 at Leerink Partners; Reacceleration in Eylea

Leerink Partners analyst Joseph Schwartz reiterated an Outperform rating and bumped his price target on Regeneron Pharma (NASDAQ: REGN) to $664.00 (from $630.00) following solid Q2 results this morning. The analyst noted reacceleration in Eylea, particularly due to demand in diabetic macular edema (DME).

Schwartz commented, "On Tuesday (8/4) before the open, REGN reported its 2Q15 financial results that beat on both top and bottom line, largely due to continued strength in Eylea’s US sales ($655MM, 21% growth q/q), handily beating our/consensus estimates of $565MM/$595MM. Ex-US sales of $338MM also came above our estimate of $308MM. We are updating our model to reflect new top-line growth estimates, largely factoring in the continued strong growth of the Eylea franchise."

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 $554.27 yesterday.

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