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Fly News Breaks for May 6, 2015
REGN
May 6, 2015 | 07:32 EDT
Leerink analyst Joseph Schwartz raised his price target for Regeneron shares to $559 from $527 to reflect an increased sales forecast for dupilumab, the company's anti-IL-4 receptor alpha monoclonal antibody. After surveying medical dermatologists who treat moderate-to-severe atopic dermatitis patients, Schwartz estimates global dupilumab sales at $3.5B in 2026 in AD, well above his prior $2B forecast. Total dupilumab sales could reach over $4B when the asthma indication is included, the analyst points out. He keeps an Outperform rating on Regeneron. The stock closed yesterday down $8.67 to $465.50.
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