Wells Fargo raised the firm’s price target on Regeneron (REGN) to $1,125 from $1,050 and keeps an Overweight rating on the shares following reports that said the company has won a permanent injunction against Eylea biosimilar from Mylan (VTRS). While permanent injunction was expected, it takes away a risk factor from Regeneron and the firm suspects a biosimilar may not reach markets until 2027. In the meantime, Regeneron has many catalysts to stay in the name, Wells argues.
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