In a research report issued today, Piper Jaffray analyst Edward Tenthoff weighed in with a few insights on Regeneron Pharmaceuticals Inc (NASDAQ:REGN) following Avalanche’s release of its data from the Phase IIa trial of AVA-101 in wet AMD. Although the trial met its primary endpoint, the data was confounded, giving Regeneron a time-limited right of first negotiation to decide whether or not to opt into the development of AVA-101. The analyst reiterated a Neutral rating on the stock with a price target of $484.00. Shares of REGN are currently trading at $501.42, up $2.36, or 0.47%.

Tenthoff wrote, “While we are still confident in approval by the July 24th PDUFA, there is a higher likelihood of a restricted label, which could lower launch expectations. Regeneron is building a direct sales force and shares commercial expense with Sanofi for the Praluent launch. We conservatively forecast Praluent sales of $80 million in 2H:15 and $250 million in 2016, meaning the partnership may not turn a profit until 2017, which could be a drag on Regeneron’s near-term earnings.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Edward Tenthoff has a total average return of 29.7% and a 66.7% success rate. Tenthoff has a 104.8% average return when recommending REGN, and is ranked #147 out of 3629 analysts.

Out of the 18 analysts polled by TipRanks, 12 rate Regeneron stock a Buy, while 6 rate the stock a Hold. With a downside potential of 13.1%, the stock’s consensus target price stands at $433.76.

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