Regeneron price target raised to $1,170 from $1,060 at Argus

Argus analyst Jasper Hellweg raised the firm’s price target on Regeneron to $1,170 from $1,060 and keeps a Buy rating on the shares. The company stands to benefit from positive developments over the next 12 months, including potential FDA and European Commission approvals of linvoseltamab as a treatment for relapsed/refractory multiple myeloma and for Dupixent as a treatment for uncontrolled chronic obstructive pulmonary disease, the analyst tells investors in a research note. The firm adds that Regeneron shares appears favorably valued at 24-times projected 2024 earnings, below the peer average of 25-times.