Piper Sandler analyst Christopher Raymond lowered the firm’s price target on Regeneron (REGN) to $1,195 from $1,242 and keeps an Overweight rating on the shares post the Q3 report. The firm recognizes management’s “body language” around slower than anticipated uptake of Eylea HD does not inspire confidence, but believes yesterday’s stock reaction “represents a serious overreaction.” With the stock having lost $45B in market capitalization from its highs, now trading at 16-time Piper’s fiscal 2025 earnings estimate, any risk to numbers has been more than accounted for in this pullback, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on REGN:
- Regeneron price target lowered to $1,065 from $1,080 at Barclays
- Regeneron Pharmaceuticals Reports Strong Q3 2024 Results
- Regeneron files automatic mixed securities shelf
- Regeneron price target lowered to $1,215 from $1,260 at RBC Capital
- Regeneron price target lowered to $1,150 from $1,200 at Oppenheimer