In a report released yesterday, Hartaj Singh from Oppenheimer maintained a Buy rating on Regeneron (NASDAQ: REGN), with a price target of $440. The company’s shares closed yesterday at $386.49.
Singh wrote:
“We hosted an asthma expert call on 9/17 to discuss “Biologic Asthma” (replay ID: 7879689). Over the course of the discussion our high-volume allergist/immunologist made the following crucial points: (1) while ~25% of his current severe asthma patients are on biologics, he could see this use increasing to 50% one year after approval of dupilumab, (2) while biologic efficacy (IL-5s vs. Dupi IL-4/IL-13 blockade) is broadly similar, dupilumab’s superior safety profile could make it the front-line biologic among severe asthma patients (vs. IL-5 currently) and (3) at least 20% of current IL-5 severe asthma patients fail therapy and could be cycled onto dupilumab. We model $150M in 2019 dupilumab asthma sales; however, we believe this could be conservative.”
According to TipRanks.com, Singh is a 4-star analyst with an average return of 9.3% and a 48.4% success rate. Singh covers the Healthcare sector, focusing on stocks such as Strongbridge Biopharma Plc, Syndax Pharmaceuticals Inc, and Catabasis Pharmaceuticals.
The word on The Street in general, suggests a Hold analyst consensus rating for Regeneron with a $385.56 average price target.
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Regeneron’s market cap is currently $42.34B and has a P/E ratio of 28.01. The company has a Price to Book ratio of 5.81.
Based on the recent corporate insider activity of 29 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.
