Brean Capital Raises Regeneron Pharmaceuticals As Confidence In Alirocumab Increased


In a research report sent to investors today, Brean Capital analyst Jonathan Aschoff maintained a Buy rating on Regeneron Pharmaceuticals (NASDAQ:REGN) and raised his price target to $450 (from $390), which represents a potential upside of 9% from where the stock is currently trading.

Aschoff wrote, “At the AHA meeting, positive results from six of the several ongoing ODYSSEY trials of alirocumab for hypercholesterolemia were presented. Alirocumab Q2W either alone or in combination with statins significantly reduced the LDL-C level in several different patient types. Positive results from four other ODYSSEY trials have already read out, and results from these ten ODYSSEY trials will form the basis for US and EU filings of alirocumab, which will be submitted by YE14.”

The analyst continued, “We anticipate US approval in mid-2015 with Priority Review status for the alirocumab filing. Four additional ODYSSEY trials will read out primary endpoints in 2015 and beyond. Given the strong efficacy on top of already substantial lipid lowering regimens, as well as a clean safety profile, we raise our target because we project approval and rapid adoption for alirocumab as incrementally likely.”

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 12.6% and a 63.0% success rate. Aschoff has a 27.6% average return when recommending REGN, and is ranked #147 out of 3377 analysts.

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