Bernstein analyst Aaron Gal upgraded Regeneron (REGN) to Outperform from Market Perform with a $500 price target. The analyst has been cautious around Regeneron, arguing that while near-term earning upside is there, the long-term outlook is limited by competitive pressures on Eylea and Dupixent. However, he believes the news of vasculitis cases with Novartis' (NVS) Beovu changes the balance. His discussions with practices suggest that they will narrow the new product's use and its outlook may be hampered for some time. Further, other new products may be slower to adopt, at least initially, he adds.

Oppenheimer analyst Hartaj Singh raised the firm's price target on Regeneron to $1,175 from $1,125 and keeps an Outperform rating on the shares ahead of the Q1 earnings report on May 2. Oppenheimer believes the areas of focus will be the status and dynamics of the Eylea High Dose launch, questions around the impending Dupixent COPD PDUFA, the status of the two oncology approvals expected in 2024, updates on various pipeline projects in immunology and oncology, and comments on capital allocation and financial planning by the new CFO at the company.

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.