Piper ups Regeneron price target to $800, says Q4 report ‘good enough’

Piper Sandler analyst Christopher Raymond raised the firm’s price target on Regeneron (REGN) to $800 from $765 and keeps an Overweight rating on the shares after the company’s Q4 top- and bottom-line beat, which the firm calls "good enough" ahead of what it sees being a number of critical events coming this year. Given continued fundamental competition from Roche’s (RHHBY) Vabysmo, Piper continues to anticipate pressure on the Eylea franchise, at least until the high-dose launch in late August, but the firm says Dupixent remains a key growth driver and it likes the optionality of the COPD readout, leading it to continue to recommend purchasing Regeneron shares.