Truist analyst Robyn Karnauskas keeps a Buy rating and $1,200 price target on Regeneron (REGN), saying the 5% decline in the stock price following the denial by District Court Judge Thomas Klee of the company’s motion for a preliminary injunction against Amgen (AMGN) in its Eylea generics lawsuit is an “overreaction”. Eylea continues to be an important part of the near-term Regeneron story, but longer-term, the company has an underappreciated pipeline including oncology, immunology and inflammation, cardiovascular, etc., the analyst tells investors in a research note.
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