Piper Sandler analyst Christopher Raymond maintained an Overweight rating and $435 price target on Regeneron (REGN) in a note titled 'New ASRS Communication Points to Game Changing New Beovu Side Effects.' The analyst said he is "incrementally positive" on the company after learning that the American Society of Retina Specialists, or ASRS, issued a member communication that he believes "meaningfully skews the risk/benefit profile for Beovu," a macular degeneration drug from Novartis (NVS). The note, which Piper could not obtain, reportedly details a side effect of Beovu that could lead to vision loss, which means "any doc currently prescribing the drug will likely 'freak out.'" Raymond believes as investors become more aware of this potential issue, shares of Regeneron, which makes competing treatments to Beovu, will move higher.

TD Cowen analyst Yaron Werber raised the firm's price target on BeiGene (BGNE) to $236 from $235 and keeps a Buy rating on the shares. The firm updated its model to reflect lower collaborative revenue given termination of Novartis (NVS) agreement for tisle in Sep 2023.