Guggenheim lowers Regeneron price target, says selloff ‘overdone’

Guggenheim lowered the firm’s price target on Regeneron (REGN) to $950 from $1,200 and keeps a Buy rating on the shares. The firm, which is updating its model after Regeneron reported FY24 earnings, is lowering Eylea estimates based on the increased competitive pressure and commercial dynamic as well as reducing our estimate for the pipeline, driving its lowered price target However, the firm believes the stock is “oversold at these levels, with the Eylea weakness already factored in,” which it sees creating “a nice entry point for investors as they look towards the expansive pipeline.”