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REGN

Regeneron

$394.87

-2.3 (-0.58%)

, BLUE

Bluebird Bio

$149.90

-6.85 (-4.37%)

06:33
08/06/18
08/06
06:33
08/06/18
06:33

Regeneron, Bluebird Bio announce collaboration

Regeneron Pharmaceuticals (REGN) and bluebird bio (BLUE) announced a collaboration to apply their respective technology platforms to the discovery, development and commercialization of novel immune cell therapies for cancer. The collaborators will specifically leverage Regeneron's VelociSuite platform technologies for the discovery and characterization of fully human antibodies as well as T cell receptors, or TCRs, directed against tumor-specific proteins and peptides, and bluebird bio will contribute its field-leading expertise in gene transfer and cell therapy. The collaborators have jointly selected six initial targets and will equally share the costs of research and development up to the point of submitting an Investigational New Drug, or IND, application. Additional targets may be selected over the five-year research collaboration term. When an IND is submitted for a potential cell therapy product, Regeneron will have the right to opt-in to a co-development/co-commercialization arrangement for certain collaboration targets, with 50/50 cost and profit sharing. If Regeneron does not opt-in, the company is eligible to receive milestone payments and royalties from bluebird bio on any potential resulting products. Regeneron will also make a $100 million investment in bluebird bio common stock at a price of $238.10 per share, which represents a premium of 59 percent over the $150 closing price on August 3, 2018. This approximately $37 million premium will be credited against Regeneron's initial 50 percent funding obligation for basic collaboration research, after which the collaborators will fund ongoing research equally. The transaction is subject to preclearance by the Federal Trade Commission under applicable antitrust laws.

REGN

Regeneron

$394.87

-2.3 (-0.58%)

BLUE

Bluebird Bio

$149.90

-6.85 (-4.37%)

  • 11

    Aug

  • 14

    Aug

  • 20

    Oct

  • 28

    Oct

REGN Regeneron
$394.87

-2.3 (-0.58%)

08/03/18
BMOC
08/03/18
NO CHANGE
Target $388
BMOC
Market Perform
Regeneron price target raised to $388 from $361 at BMO Capital
BMO Capital analyst Matthew Luchini raised his price target on Regeneron to $388 after its Q2 results showing 'in-line' Eylea sales, a beat from Dupixent, and better than expected earnings coming from lower expenses and taxes. The analyst also attributes the recent improved investor sentiment to a potential weekly SubQ C5 inhibitor, which is expected to start a Phase II trial in 2019. Longer term, the analyst keeps his Market Perform rating on Regeneron given the "concerns about VEGF competitors and key pipeline opportunity uncertainty".
08/03/18
BARD
08/03/18
DOWNGRADE
BARD
Neutral
Regeneron downgraded to Neutral from Outperform at Baird
08/02/18
PIPR
08/02/18
NO CHANGE
Target $450
PIPR
Overweight
Regeneron stock setup 'skewed decidedly to the upside,' says Piper Jaffray
Piper Jaffray analyst Christopher Raymond calls Regeneron Pharmaceuticals' beat in Q2 "impressive." The company is an "emerging operational juggernaut," Raymond tells investors in a post-earnings research note. He believes the stock's setup remains "skewed decidedly to the upside" and keeps an Overweight rating on Regeneron with a $450 price target.
07/19/18
WELS
07/19/18
NO CHANGE
Target $240
WELS
Outperform
Allergan wet AMD data exceed 'unofficial benchmark,' says Wells Fargo
The released efficacy data from Allergan's (AGN) two Phase III trials of its anti-VEGF treatment abicipar in wet age-related macular degeneration looks to have exceeded the "unofficial benchmark set by potential extended-duration competitors," Novartis' (NVS) brolucizumab and Regeneron's (REGN) Eylea, Wells Fargo analyst David Maris tells investors in a research note. The analyst forecasts $125M in sales for abicipar in its first year on the market in 2020 and estimates it will grow to $500M in 2022. Maris keeps an Outperform rating on Allergan with a $240 price target.
BLUE Bluebird Bio
$149.90

-6.85 (-4.37%)

08/02/18
PIPR
08/02/18
NO CHANGE
PIPR
Overweight
Piper Jaffray says 'exciting period' ahead for Bluebird Bio
Piper Jaffray analyst Tyler Van Buren said Bluebird Bio made substantial progress in Q2 and reported what he believes were very positive datasets across its key development programs. The analyst, who contends that Bluebird is "entering an exciting period of time," recommends that investors own the shares to realize the additional value that will be generated from LentiGlobin, bb2121(7), and Lenti-D as the company has the potential for its first three product approvals over the period of 2019-2020. Van Buren maintains an Overweight rating on Bluebird Bio shares.
07/30/18
MAXM
07/30/18
NO CHANGE
Target $163
MAXM
Hold
Bluebird Bio price target lowered to $163 from $200 at Maxim
Maxim analyst Jason McCarthy lowered his price target on Bluebird Bio to $163 after the company's announced capital raise, expecting about $630M in proceeds. The analyst also keeps his Hold rating, saying that while the accelerated EMA assessment on LentiGlobin could reduce the review period to 150 days from 210 days, the company has "only incremental catalysts" in the short term.
06/19/18
EVER
06/19/18
UPGRADE
Target $230
EVER
Outperform
Bluebird Bio upgraded to Outperform with $230 price target at Evercore ISI
As previously reported, Evercore ISI analyst Josh Schimmer upgraded Bluebird Bio (BLUE) to Outperform from In Line, stating that its recent updates for LentiGlobin for sickle cell disease and for its myeloma CAR-T program partnered with Celgene (CELG) have increased his view of the prospects for commercial success for both programs. While competitor CAR-T updates may show that bb2121 is not particularly differentiated, it will have a key first-mover advantage and strong commercial partner, Schimmer tells investors. Schimmer raised his price target on Bluebird shares to $230 from $175.
06/19/18
EVER
06/19/18
UPGRADE
EVER
Outperform
Bluebird Bio upgraded to Outperform from In Line at Evercore ISI

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