RBC Capital analyst Brian Abrahams lowered the firm’s price target on Regeneron to $802 from $806 and keeps a Sector Perform rating on the shares. The analyst states that the firm conducted a payer survey to better gauge future dynamics of the company’s key value-driving optho franchise and understand how tiering and step edits will be used to manage utilization of high-dose Eylea vs. competitors. RBC concluded that Regeneron could hang on to about 2/3 of its market share, but also contends that the current consensus estimates look "too optimistic". The firm added that until go-forward consensus Eylea numbers come down to reflect Eylea erosion, or unless Regeneron can successfully delay biosimilar entry, it may be more difficult for the stock to meaningfully outperform.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on REGN:
- Dupixent® (dupilumab) Approved by European Commission as First and Only Targeted Medicine for Children as Young as Six Months Old with Severe Atopic Dermatitis
- Regeneron, Sanofi present results from Dupixent clinical trial
- Dupixent® (dupilumab) Late-Breaking Data at AAD Show Significant Improvements in Signs and Symptoms of Moderate-to-severe Atopic Hand and Foot Dermatitis
- Regeneron pressure from CMS draft a buying opportunity, says Morgan Stanley
- Students Win More Than $1.8 Million at 2023 Regeneron Science Talent Search for Remarkable Scientific Research on RNA Molecule Structure, Media Bias, and Diagnostics for Pediatric Heart Disease