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Fly News Breaks for July 13, 2015
CELG, REGN
Jul 13, 2015 | 07:35 EDT
Deutsche Bank analyst Robyn Karnauskas raised her price target for Regeneron Pharmaceuticals (REGN) to $650 saying the run in the shares is not over. Her previous price target was $455. The biopharmaceutical company closed Friday up $16.98 to $526.01. Karnauskas notes that while Celgene (CELG) is her top pick in biopharma, she sees 25% upside for Regeneron with "many" near-term catalysts. The company's antibody business continues to grow while investors are underestimating Dupilimab, a drug with Phase 3 data this year, Karnauskas tells investors this morning in a research note. Dupilumab, a monoclonal antibody designed for the treatment of atopic diseases, could be a $10B-plus opportunity for Regeneron, according to the analyst. She keeps a Buy rating on the shares.
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