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Fly News Breaks for August 3, 2015
OPHT, REGN
Aug 3, 2015 | 08:56 EDT
Leerink analyst Joseph Schwartz raised his price target for Regeneron (REGN) to $630 following the approval of Praluent "with a relatively broad label and pricing upside." The analyst also raised his addressable patient pool estimates for the company's neovascular wet age-related macular degeneration treatment REGN2176-3 following Leerink's Retinal Disease white paper. Depending on the relative strength of Ophthotech's (OPHT) Fovista and REGN-2176 data, Regeneron could be fairly valued in the range of $577-$694 per share, Schwartz tells investors in a research note. He also raised his price target for shares of Ophthotech to $92 from $69. He has Outperform ratings on both names.
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