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Investing.com - Bernstein SocGen Group raised its price target on Regeneron Pharma (NASDAQ:REGN) to $781.00 from $753.00 on Wednesday, while maintaining an Outperform rating on the stock. According to InvestingPro data, the $60.8B market cap biotech company currently trades at $587.65, with analysts maintaining a Buy consensus rating. InvestingPro analysis suggests the stock is currently undervalued.
The price target increase follows positive Phase 3 clinical trial results for Regeneron’s treatment for myasthenia gravis (MG), which the firm has now added to its financial model. The addition of this potential treatment increases Bernstein’s earnings per share estimates by 7% in future years. Notably, InvestingPro data shows 11 analysts have recently revised their earnings estimates upward, with the company maintaining a strong financial health score of "GREAT."
Bernstein noted that the efficacy data for the MG treatment appears competitive with currently approved agents, with a key differentiator being a longer dosing interval (Q12W) with sustained treatment effect. The firm acknowledged potential headwinds from an "unfavorable C5 safety profile."
The research firm expressed surprise that Regeneron’s stock only gained 1.4% versus the XBI biotech index following the data release, suggesting the market is taking a "show-me" approach to the development.
Bernstein continues to recommend Regeneron as a "quality, undervalued long-term holding," while noting tactical caution ahead of an upcoming FDA decision on Q4W dosing for Eylea HD, with the next major catalyst being LAG3 melanoma results expected in Q4 2025 or Q1 2026. The stock currently trades at a P/E ratio of 14, with InvestingPro identifying over 8 additional key insights available to subscribers, including detailed valuation metrics and growth indicators.
In other recent news, Regeneron Pharmaceuticals announced positive results from its Phase 3 NIMBLE trial for cemdisiran in treating generalized Myasthenia Gravis (gMG). The trial showed a significant improvement in the Myasthenia Gravis Activities of Daily Living score, surpassing results from historical trials of currently approved therapies. Following these results, Jefferies raised its price target for Regeneron to $831, maintaining a Buy rating. Rothschild Redburn also initiated coverage with a Buy rating and a $890 price target, highlighting significant upside potential. Meanwhile, TD Cowen maintained its Buy rating and $780 price target, expressing interest in Regeneron’s pipeline, particularly its allergy programs. Cantor Fitzgerald reiterated an Overweight rating with a $678 price target, despite a mixed company update involving positive developments in Eylea HD and regulatory delays. These developments reflect a period of active interest and varied analyst perspectives on Regeneron’s prospects.
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