Regeneron price target raised to $650 from $605 at BofA

BofA raised the firm’s price target on Regeneron (REGN) to $650 from $605 and keeps an Underperform rating on the shares. While shares have traded positively following last week’s update on Regeneron and Sanofi’s (SNY) Dupixent data in COPD, the firm said its call with a key opinion leader about the data and what it could mean for the COPD treatment paradigm lead them to maintain the view that "there is still more wood to chop." BofA remain sidelined on Regeneron as it thinks the future of the Eylea franchise remains challenging and the oncology franchise may not mature in time to offset losses.