RBC Capital analyst Adnan Butt was out pounding the table with Regeneron Pharmaceuticals Inc (NASDAQ:REGN), reiterating an Outperform rating on the stock and boosting the price target to $550 (from $543). Shares of REGN care currently trading at $492.29, down $8.81, or -1.76%.
Butt commented, “Uncertainty around alirocumab’s label has seen REGN shares decline, which could be a buying opportunity. We see the shares going higher near- and long-term on: 1) Bigger Eylea opportunity, 2) Broader alirocumab label, 3) Dupilumab Phase III data, filing and approval in 2015-2017, 4) Proprietary pipeline delivering successes, and 5) SNY as downside supporter though we see REGN becoming a mega cap on its own merits.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Adnan Butt has a total average return of -1.9% and a 51.0% success rate. Butt has a 26.7% average return when recommending REGN, and is ranked #3031 out of 3624 analysts.
Out of the 19 analysts polled by TipRanks, 12 rate REGN stock a Buy, and 7 rate it a Hold. With a return potential of 6.89%, the stock’s consensus target price stands at $526.20.