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Fly News Breaks for February 16, 2017
ALXN, AMGN, REGN
Feb 16, 2017 | 08:15 EDT
Goldman Sachs analyst Terence Flynn downgraded Regeneron Pharmaceuticals (REGN) to Neutral from Buy citing valuation with the stock within 9% of his unchanged $417 price target. The analyst sees less upside potential relative to Regeneron's large-cap peers Amgen (AMGN) and Alexion (ALXN). Flynn adds that his revenue estimates for Regeneron's 2018-2020 are no longer above consensus following the PCSK9 litigation and recent Eylea guidance. The stock closed yesterday up $7.47 to $384.00.
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