Roth Capital Reiterates Buy On Regeneron Following Priority Review Acceptance
In a research report sent to investors today, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on Regeneron Pharmaceuticals (NASDAQ:REGN) with a price target of $461, following the news that the FDA accepted the Priority Review sBLA application for REGN’s Eylea for the treatment of patients with diabetic retinopathy coupled with DME.
Pantginis wrote, “We continue to be impressed with the progress made with Eylea on the commercial and clinical development sides. We believe there is high likelihood of approval for DR-DME, which should further contribute to Eylea’s revenue growth. With recent FDA approvals for RVO (CRVO and BRVO) we look forward to 4Q14 results to see the impact on sales growth.”
The analyst continued, “While we are vigilant following management’s note of potential slower uptake of Eylea in these newly approved indications due to RVO progression dynamics compared to wet AMD, we believe that long-term there is room for growth, supported by the successful clinical studies and expanding literature.”
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 -2.4% and a 43.6% success rate. Pantginis has a 39.7% average return when recommending REGN, and is ranked #3123 out of 3388 analysts.