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Fly News Breaks for February 25, 2020
NVS, REGN
Feb 25, 2020 | 08:08 EDT
As previously reported, Jefferies analyst Biren Amin upgraded Regeneron (REGN) to Buy from Hold with a price target of $492, up from $355, after reports in an FDA database showed an elevated rate of vasculitis in patients treated with Novartis' (NVS) Beovu compared to Regeneron's Eylea. Two retina doctors he spoke to expect Beovu use to significantly decrease in the near-term, noted Amin, who raised his Eylea estimates to be ahead of consensus by $180M in 2020 and $450M in 2021 and 2022, respectively.
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