RBC Capital analyst Brian Abrahams raised the firm’s price target on Regeneron to $830 from $820 and keeps a Sector Perform rating on the shares. The earlier-than-expected approval of high-dose Eylea brings the company’s key life cycle strategy mostly back on track only two months behind the original plan, the analyst tells investors in a research note. Label looks unsurprising, while the pricing at or slightly below standard Eylea should thread the needle effectively and aligns with the firm’s expectations, RBC added. The analyst notes however that while the news does help remove an important overhang, Regeneron shares have appreciated “closer to fair value”.
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