Regeneron price target lowered to $1,215 from $1,260 at RBC Capital

RBC Capital lowered the firm’s price target on Regeneron (REGN) to $1,215 from $1,260 but keeps an Outperform rating on the shares. The extent of the stock’s downside following Q3 earnings are somewhat surprising as the firm believed that the the near- and long-term consensus optho franchise estimates were better understood as being “unrealistically optimistic”, the analyst tells investors in a research note. RBC adds however that Regeneron’s fundamental fair value seems well above where shares sit today.