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Fly News Breaks for August 15, 2017
REGN
Aug 15, 2017 | 08:25 EDT
Leerink analyst Geoffrey Porges lowered his price target for Regeneron to $552 from $580 after the company announced that suptavumab failed in a phase 3 trial for respiratory syncytial virus and development will be discontinued. The analyst remains positive about Regeneron's stock based on his expectations of the long-term Dupixent trajectory, the positive upcoming catalyst of the Dupixent asthma data and sBLA fling, and the potential upside catalyst from the combination Eylea/nesvacumab data in Q4. He reiterates an Outperform rating on the shares.
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