2020-05-01 05:03:56 REGN Regeneron
Gilead
05/01/20 05/0105:03 05/01/2005:03 | Piper likes Regeneron's chances for COVID-19 vaccine, ups price targetPiper Sandler analyst Christopher Raymond raised the firm's price target on Regeneron Pharmaceuticals (REGN) to $550 from $500 and keeps an Overweight rating on the shares. While Gilead's (GILD) remdesivir's positive update earlier this week provided hope that science is contributing to physicians' tool box of COVID-19 therapeutic options, "much more is required to bridge the gap to a viable vaccine," Raymond tells investors in a research note. To that end, the analyst thinks Regeneron's SARS-CoV-2 antibody cocktail, and other purpose-built programs like it, are "likely society's best shot in that regard." And with human testing beginning next month for Regeneron's cocktail, Raymond suspects the next several months will see increased focus on this approach as data becomes available. He likes Regeneron's chances and thinks yearly sales of $2B-$3B$ are possible. Regeneron
Gilead
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