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REGN

Regeneron

$361.86

3.23 (0.90%)

, NVS

Novartis

$85.80

0.65 (0.76%)

05:56
12/01/17
12/01
05:56
12/01/17
05:56

Regeneron downgraded to Neutral from Buy at Citi

Citi analyst Robyn Karnauskas downgraded Regeneron Pharmaceuticals (REGN) to Neutral and cut her price target for the shares to $380 from $480. The biotechnology company closed yesterday up 1% to $361.86. The analyst believes the competitive threat from Novartis' (NVS) vision-loss drug RTH258 is being underappreciated by the market. It is hard to believe that RTH258 would not have a price impact, at minimum, on Regeneron's Eylea, Karnauskas tells investors in a research note. The analyst points out that her dermatologist survey came back bullish for Regeneron's Dupixent. While she expects the drug to beat expectations for 2018, the analyst feels this won't be enough to offset the overhang on shares from Eylea competition.

REGN

Regeneron

$361.86

3.23 (0.90%)

NVS

Novartis

$85.80

0.65 (0.76%)

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REGN Regeneron
$361.86

3.23 (0.90%)

11/13/17
MSCO
11/13/17
NO CHANGE
MSCO
Equal Weight
Morgan Stanley sees limited near-term impact on Regeneron from Novartis data
Morgan Stanley analyst Matthew Harrison noted that Novartis (NVS) presented RTH258 data at the American Academy of Ophthalmology meeting that did show the potential for a commercial "hook," namely an ability to "dry out" hard to treat patients. However, an FDA filing is not expected until the second half of 2018 and key safety details are still needed for a more accurate determination of brolucizumab's possible commercial impact, said Harrison, who sees limited near-term impact on Regeneron (REGN) from the data on the Eylea competitor. He keeps an Equal Weight rating on Regeneron shares.
11/16/17
EVER
11/16/17
NO CHANGE
Target $445
EVER
Outperform
Regeneron price target lowered to $445 from $605 at Evercore ISI
Evercore ISI lowered its price target for Regeneron (REGN) to $445 from $605 given meaningful competitive threat to Eylea. For every dollar of U.S. Eylea sales lost to competition, Regeneron has to make up for it with two times as much revenue from the Sanofi (SNY) JV, it adds. The firm has an Outperform rating on Regeneron's shares.
11/28/17
BOFA
11/28/17
NO CHANGE
BOFA
Equity Residential, Regeneron removed from US 1 List at BofA/Merrill
11/28/17
BMOC
11/28/17
NO CHANGE
Target $444
BMOC
Market Perform
Regeneron price target lowered to $444 from $479 at BMO Capital
BMO Capital analyst Matthew Luchini lowered his price target on Regeneron to $444, saying the Phase 2 trial failure of Eylea injection with Ang2 in AMD and DME "eliminates a potential growth source". The analyst notes that while the expectations for Ang2 were low, the setback is another example of long-term risks to Regeneron's core business. Luchini keeps his Market Perform rating, saying investors' focus now shifts to Praluent ODYSSEY outcomes data in early 2018, PANORAMA Phase III data of Eylea in diabetic retinopathy in the first half of next year, and updated Phase II data for REGN2810 in CSCC expected in the current quarter to be followed by potential filing in Q1 and proof-of-concept Phase I data for REGN3500.
NVS Novartis
$85.80

0.65 (0.76%)

11/13/17
PIPR
11/13/17
NO CHANGE
PIPR
Piper says buy Regeneron on any weakness from Novartis data
Piper Jaffray analyst Christopher Raymond recommends using any weakness today in shares of Regeneron Pharmaceuticals (REGN) from Novartis' (NVS) RTH258 data as a buying opportunity. While the primary endpoint of non-inferiority versus Regeneron's Eylea was met, Novartis left many key details out of the press release, Raymond tells investors in a research note titled "RTH258 Full Data - We Still Think it's Not All That." The most important omission is the fact that RTH258 was numerically inferior to Eylea on the primary endpoint of best corrected visual acuity, the analyst points out. Raymond remains comfortable with Eylea's competitive positioning and keeps an Overweight rating on Regeneron with a $540 price target.
11/16/17
JEFF
11/16/17
NO CHANGE
JEFF
Buy
Jefferies names Roche new top global pick in Pharmaceuticals
Jefferies analyst Jeffrey Holford names Roche (RHHBY) his new "Top Pick Globally" in Pharmaceuticals following the strong share performance of his previous top pick for 2017, AbbVie (ABBV). The analyst believes the company's growth outlook is better than many investors think. Roche is nearing sentiment lows and investors "need to look hard at the replacement power" offered by assets Tecentriq, Ocrevus, Gazyva, ACE910 and Perjeta, Holford tells investors in a research note. Following Roche, the analyst has the highest conviction on Novartis (NVS), Bayer (BAYRY), AbbVie, Johnson & Johnson (JNJ), Zoetis (ZTS) and Eli Lilly (LLY). His least preferred stocks in Pharmaceuticals are Merck (MRK), Novo Nordisk (NVO) and AstraZeneca (AZN).
11/20/17
JPMS
11/20/17
DOWNGRADE
Target $82
JPMS
Neutral
Advanced Accelerator downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Jessica Fye downgraded Advanced Accelerator Applications (AAAP) to Neutral citing the proposed Novartis (NVS) tender offer. The analyst says the stock is already reflecting a very high likelihood of the deal closing. She raised her price target for the shares to $82 from $53.

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