Canaccord analyst John Newman lowered the firm’s price target on Regeneron (REGN) to $850 from $1,152 and keeps a Buy rating on the shares. The firm said they are reducing their target given erosion of 2mg market share by Amgen’s (AMGN) biosimilar; and continued competition from Roche’s (RHHBY) Vabysmo.
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 – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on REGN:
- Regeneron expands manufacturing capacity through new agreement with Fujifilm
- Regeneron assumed at Overweight from Neutral at Cantor Fitzgerald
- Regeneron CRL for Eylea extension not surprising, says Oppenheimer
- Regeneron receives complete response letter for Eylea extended dosing
- Regeneron announces FDA accepted Priority Review sBLA for EYLEA HD