Regeneron Pharmaceuticals Inc (NASDAQ:REGN) and Sanofi announced that the ongoing Praluent® (alirocumab) ODYSSEY OUTCOMES trial will continue as planned, based on the recommendation of an independent Data Monitoring Committee (DMC) after it completed a second pre-specified interim analysis. The DMC will continue to monitor the ongoing safety and efficacy of Praluent as planned.
The Phase 3, multi-center, randomized, double-blind, placebo-controlled ODYSSEY OUTCOMES trial involves more than 18,000 patients from 57 countries. All patients who entered the trial had experienced a heart attack or unstable angina requiring hospitalization within a year of entering the trial, and were unable to control their LDL cholesterol despite receiving maximally-tolerated statins and potentially other lipid-lowering therapies. Patients receiving maximally-tolerated statin therapy were randomized to receive either Praluent 75 milligrams (mg) every two weeks or placebo. Patients on Praluent had their dose increased to 150 mg every two weeks at week 8 if their LDL cholesterol remained above 50 milligrams/deciliter (mg/dL). (Original Source)
Shares of Regeneron closed yesterday at $420.08, down $8.57 or -2.00%. REGN has a 1-year high of $592.59 and a 1-year low of $325.35. The stock’s 50-day moving average is $387.89 and its 200-day moving average is $389.87.
On the ratings front, Regeneron has been the subject of a number of recent research reports. In a report issued on November 9, BTIG analyst Dane Leone reiterated a Hold rating on REGN. Separately, on November 7, Chardan’s Gbola Amusa maintained a Sell rating on the stock and has a price target of $300.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Dane Leone and Gbola Amusa have a yearly average return of 11.9% and a loss of 6.8% respectively. Leone has a success rate of 71% and is ranked #137 out of 4226 analysts, while Amusa has a success rate of 40% and is ranked #3966.
Sentiment on the street is mostly neutral on REGN stock. Out of 15 analysts who cover the stock, 10 suggest a Hold rating , 4 suggest a Buy and one recommends to Sell the stock. The 12-month average price target assigned to the stock is $434.60, which represents a slight upside potential from current levels.
Regeneron Pharmaceuticals, Inc. operates as a biopharmaceutical company. It discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions. The company involves in marketing medicines for eye diseases, colorectal cancer and a rare inflammatory condition and has product candidates in development in other areas of high unmet medical need, including hypercholesterolemia, oncology, rheumatoid arthritis, asthma and atopic dermatitis. Its products include EYLEA (aflibercept) injection, which is used for the treatment of neovascular age related macular degeneration; ARCALYST (rilonacept), which is used for the treatment of Cryopyrin-Associated Periodic Syndrome, including Familial Cold Auto-inflammatory Syndrome and Muckle-Wells Syndrome; and PRALUENT (alirocumab) Injection for treatment of adults with heterozygous familial hypercholesterolemia or clinical atherosclerotic cardiovascular disease, who require additional lowering of LDL- C. Regeneron Pharmaceuticals was founded by Alferd G. Gilman, Leonard S.