Regeneron: Alirocumab Has The Potential To Become A New Treatment Staple Of High LDL-C Therapy, Says Roth Capital
In a research report issued today, Roth Capital analyst Joseph Pantginis maintained a Buy rating on Regeneron Pharmaceuticals (NASDAQ:REGN), and raised his price target to $422.00 (from $399), following the company’s full data release from its four ODYSSEY Phase III studies which achieved their primary endpoints.
Pantginis noted, “With these additional data, Regeneron and Sanofi are well positioned for their expected upcoming regulatory submissions for alirocumab in the U.S. and E.U. Following the previously released positive data from ODYSSEY studies, these new data add to the overall impressive efficacy and safety profile of alirocumab and highlight its potential in lowering LDL-C levels, particularly in populations resistant to current treatments with statins and ezetimibe. Regeneron/Sanofi and Amgen are now neck and neck with regards the possible approval schedule based on their regulatory filings. Amgen submitted its BLA on August 28th and its MAA filing on September 2nd. Regeneron and Sanofi announced that they intend on initiating both U.S. and E.U. regulatory submissions by the end of 2014.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of -5.5% and a 44.5% success rate. Pantginis has a 37.4% average return when recommending REGN, and is ranked #3204 out of 3253 analysts.