Daiichi Sankyo and Merck report phase 2 trial results for lung cancer drug
Investing.com - Raymond James has reiterated its Outperform rating on Regeneron Pharmaceuticals (NASDAQ:REGN), maintaining a price target of $673.00. The $59.8 billion biotechnology company currently trades at a P/E ratio of 13.75, with InvestingPro analysis indicating the stock is currently undervalued.
The firm’s analyst Sean McCutcheon reaffirmed the positive outlook for the biotechnology company in a research note issued Tuesday.
Regeneron Pharmaceuticals, headquartered in Tarrytown, New York, is known for developing medicines for serious diseases including eye disorders, allergic and inflammatory diseases, cancer, and infectious diseases.
The company’s product portfolio includes Eylea for wet age-related macular degeneration, Dupixent for atopic dermatitis and asthma, and Libtayo for certain types of cancer.
Raymond James’ maintained rating suggests continued confidence in Regeneron’s business model and growth prospects despite current market conditions.
In other recent news, Regeneron Pharmaceuticals has reported positive outcomes from its Phase 3 NIMBLE trial for the treatment of generalized myasthenia gravis. The trial showed that cemdisiran, used as a monotherapy, achieved significant improvements over placebo, leading to increased interest from analysts. Following these results, Bernstein raised its price target for Regeneron to $781, reflecting an anticipated 7% increase in future earnings per share. Jefferies also increased its price target to $831, maintaining a Buy rating on the stock. Meanwhile, UBS has kept its Neutral rating with a price target of $595, acknowledging the positive trial data. TD Cowen reiterated its Buy rating and $780 price target, citing confidence in Regeneron’s pipeline, particularly in the allergy sector. These developments highlight the growing analyst confidence in Regeneron’s prospects, especially with the advancement of cemdisiran in treating myasthenia gravis.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.