Regeneron price target lowered to $1,045 from $1,059 at RBC Capital

RBC Capital lowered the firm’s price target on Regeneron (REGN) to $1,045 from $1,059 but keeps an Outperform rating on the shares. The company reported a “solid quarter overall” with no major guidance surprises and pipeline progressing rapidly, and while the market has been kinder of late to large-caps with core franchises perceived to be stable or growing, the recent downside in Regeneron shares has created a major disconnect vs. fair value, the analyst tells investors in a research note.