Morgan Stanley raised the firm’s price target on Regeneron to $1,104 from $941 and keeps an Overweight rating on the shares following the firm’s AlphaWise survey of U.S. doctors treating wAMD and DME. The survey highlights a high level of familiarity among physicians to prescribe Regeneron’s Eylea high dose for wet age-related macular degeneration, or wAMD, and Diabetic macular edema, or DME, the analyst tells investors. The firm has raised its estimates based on the survey results and a recent patent win and now models Eylea 2024 and 2030 U.S. sales of $6.4B and $6.2B, up from $5.9B and $5B, respectively.
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