Wells Fargo lowered the firm’s price target on Regeneron to $875 from $915 on high dose Eylea Complete Response Letter, while keeping an Overweight rating on the shares. While CRL is clear negative, the firm thinks this is a minor delay and sees about 5% downside. This is because the issue is unrelated to drug and FDA approves fill/finish resubmissions within 60 days, Wells adds.
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