Analyst John Newman from Canaccord Genuity maintained a Buy rating on Regeneron (REGN – Research Report) and keeping the price target at $1,152.00.
John Newman has given his Buy rating due to a combination of factors that highlight Regeneron’s promising developments and strategic positioning. The recent data on DB-OTO, a treatment for hearing loss, has shown significant efficacy across various age groups, with improvements in Pure Tone Audiometry and Auditory Brainstem Response in most patients. This suggests a broad potential market and the possibility of regulatory approval with a relatively small patient sample, making it a cost-effective development.
Moreover, DB-OTO has demonstrated a favorable safety profile, with no drug-related adverse events reported, enhancing its appeal as a viable treatment option. Additionally, Regeneron’s broader pipeline, including the Factor XI program, is expected to support revenue stability amidst competitive pressures on existing products like EYLEA. These factors contribute to the positive outlook and justify the Buy rating with a target price of $1,152.
In another report released on February 11, Guggenheim also maintained a Buy rating on the stock with a $950.00 price target.