Brean Capital Maintains Buy On Regeneron Pharmaceuticals, $390 PT


Brean Capital analyst Jonathan Aschoff maintained a Buy rating on Regeneron Pharmaceuticals (NASDAQ:REGN) with a price target of $390, which represents a slight upside potential from current levels.

Aschoff noted, “Given the different market dynamics for DME, we are adjusting our expectations for Eylea sales ramp up in DME, but we still believe in the large DME market opportunity and Eylea’s superiority over existing treatments. About 600K patients are diagnosed with DME in the US, 40% of which are treated with anti-VEGF therapies. Laser and steroids are still predominantly used to treat DME. Moreover in October, a NIH sponsored study demonstrated Eylea’s superiority over Avastin and Lucentis for DME. Eylea showed the greatest improvement in BCVA at week 52 with fewer intravitreal injections and less rescue laser therapy than Avastin and Lucentis. AEs were similar across all three drugs. We look forward to the publication and presentation of final data from this study.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jonathan Aschoff has a total average return of 11.2% and a 57.6% success rate. Aschoff has a 30.7% average return when recommending REGN, and is ranked #250 out of 3364 analysts.

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