Truist lowered the firm’s price target on Regeneron (REGN) to $1,137 from $1,200 and keeps a Buy rating on the shares after speaking with a key opinion leader regarding the company’s litigation with Amgen (AMGN). The expert indicates that it could take a few weeks to months for Amgen to launch biosimilar, but also believes that in the litigation vs Amgen, the denial of injunction is likely to be maintained, which should allow competitor Amgen to launch a biosimilar, the analyst tells investors in a research note. Truist is now modeling its Eylea revenue view for FY25 at $5.8B and FY26 at $5.7B vs. consensus $5.9B for both years, the firm added.
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