Judge’s denial of Regeneron motion against Amgen a ‘speedbump’, says BMO Capital

BMO Capital keeps an Outperform rating and $1,300 price target on Regeneron (RGEN), saying the denial by District Court Judge Thomas Klee of the company’s motion for a preliminary injunction against Amgen (AMGN) in its Eylea generics lawsuit is “more of a speed bump than a death knell”. The company’s management has underscored that the other four injunctions issued by Judge Kleeh remain in force at this time, with Regeneron’s plan for lifecycle management continuing to progress well, the analyst tells investors in a research note.