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Oppenheimer Sticks to Their Buy Rating for Regeneron (REGN)


Oppenheimer analyst Hartaj Singh maintained a Buy rating on Regeneron (NASDAQ: REGN) yesterday and set a price target of $440. The company’s shares closed on Friday at $404.04.

Singh noted:

“Regeneron and partner Sanofi announced on 9/28 that PD-1 antibody cemiplimab (brand name Libtayo) was approved for the treatment of patients with metastatic cutaneous squamous cell carcinoma (CSCC), or locally advanced CSCC that are not candidates for curative surgery or radiation. With REGN/SNY indicating at recent investor updates that they were launch-ready and with REGN booking sales for cemiplimab, we expect a strong launch for an under-rated asset (2019E BBG consensus sales of $50M vs. $160M OPCO) in the next 12-18 months. Our recent (mid-2018) survey underpins our Street-high sales estimates and continues REGN’s recent trajectory of product approvals (cemiplimab) and label extensions ( Dupi asthma, Eylea 12-month dosing), in line with our mid-2018 upgrade (6/27–$327.23).”

According to TipRanks.com, Singh is a 4-star analyst with an average return of 12.4% and a 55.6% success rate. Singh covers the Healthcare sector, focusing on stocks such as Strongbridge Biopharma Plc, Syndax Pharmaceuticals Inc, and Catabasis Pharmaceuticals.

Currently, the analyst consensus on Regeneron is a Hold with an average price target of $385.56.

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Based on Regeneron’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $551 million. In comparison, last year the company had a net profit of $388 million.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock.

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Regeneron Pharmaceuticals, Inc. engages in the discovery, invention, development, manufacture, and commercialization of medicines for the treatment of serious diseases. It products include the following brands: EYLEA, Dupixent, Praluent, Kevzara, ARCALYST, and ZALTRAP. The company was founded by Alferd G. Gilman, Leonard S. Schleifer, and Eric M. Shooter on January 8, 1988 and is headquartered in Tarrytown, NY.