J.P. Morgan Provides Key Thoughts On Regeneron Heading Into 2015

In a research report sent to investors today, J.P. Morgan analyst Cory Kasimov reiterated a Neutral rating on Regeneron Pharmaceuticals (NASDAQ:REGN) with a $402 price target, which represents a slight downside potential from current levels.

Kasimov noted, “As of 3Q, the company has 18 product candidates in development in a range of indications, offering the potential for significant longer-term value creation. That said, shares were up another 49% in 2014 vs. NBI +34% and S&P +11% (now up over 600% in 3 years), largely based on continued progress with Eylea (label expansions, positive trial vs. competitors) and the blockbuster potential of PCSK9 alirocumab. Phase 3 sarilumab (RA) has shown some promise, but dupilumab (for allergic conditions, which received BTD in 2014) is much more compelling, in our view.”

The analyst continued, “It’s hard to argue with REGN’s recent success, and we believe the pipeline offers the potential for even more long-term optionality. That said, we are maintaining a Neutral rating, as we suspect nearer-term drivers are largely already appreciated by investors.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Cory Kasimov has a total average return of 18.4% and a 55.6% success rate. Kasimov is ranked #458 out of 3427 analysts.

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