Regeneron initiated with a Hold at Deutsche Bank

Deutsche Bank initiated coverage of Regeneron (REGN) with a Hold rating and $800 price target. The firm’s view is that the current valuation assumes that high-dose Eylea stabilizes the Eylea franchise with Dupixent driving growth. While Retina Specialists affirm that Eylea is “the current Gold Standard for treating wet age-related macular degeneration,” or wAMD, real-world feedback for Roche’s (RHHBY) new agent – Vabysmo – has been positive and indicate it’s eating into Eylea’s market share, the analyst tells investors.