Regeneron price target raised to $1,180 from $1,040 at Guggenheim

Guggenheim analyst Yatin Suneja raised the firm’s price target on Regeneron to $1,180 from $1,040 and keeps a Buy rating on the shares. Regeneron has begun shifting focus toward the competitive obesity space and plans to initiate a Phase 2 trial in obese patients this year, notes the analyst, who expects this program that aims to improve on the first-generation therapies to become a key focus for investors this year and has increased the “placeholder pipeline value” to $200 from $75 given the increasing focus on the pipeline.