Regeneron price target lowered to $800 from $820 at BofA
The Fly

Regeneron price target lowered to $800 from $820 at BofA

BofA analyst Alec Stranahan lowered the firm’s price target on Regeneron (REGN) to $800 from $820 and keeps an Underperform rating on the shares. While Regeneron reported Q3 results that beat slightly on the top-line and more meaningfully on EPS, this was overshadowed by Eylea franchise performance, the analyst tells investors. Recent news that Amgen (AMGN) will be launching a biosimilar version of Eylea standard dose soon calls into question the trajectory of the franchise – not only the rate of erosion of standard dose, which the firm thinks the Street is under-estimating, but also at least some collateral damage to high dose, the analyst tells investors.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App