Regeneron Pharma (REGN) Price Target Raised to $455 at Deutsche Bank

Deutsche Bank reiterated a Buy rating on Regeneron Pharma (NASDAQ: REGN) and raised its price target to $455.00 (from $425.00). The change follows Q3 results. Analyst Robyn Karnauskas sees major upside in the stock next year.

"Eylea US sales for 3Q missed expectations at $445M vs. $460M consensus. The co. also tightened the guidance to the lower end of previous range at $1.70-$1.74B vs. $1.70-$1.80B prev. Despite a weaker Q, we remain confident about the prospects of Eylea given 1) expansion in new indications DME and BRVO & 2) recent data from DRCR study indicating superiority of Eylea over competition. We are raising our TP to $455/sh as we increase probability of success of Alirocumab to 100% vs. 75% prev," said Karnauskas.

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 $395.26 yesterday.

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