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Fly News Breaks for February 24, 2020
REGN, NVS
Feb 24, 2020 | 12:00 EDT
Piper Sandler analyst Christopher Raymond maintained an Overweight rating and $435 price target on Regeneron (REGN) in a note titled 'New ASRS Communication Points to Game Changing New Beovu Side Effects.' The analyst said he is "incrementally positive" on the company after learning that the American Society of Retina Specialists, or ASRS, issued a member communication that he believes "meaningfully skews the risk/benefit profile for Beovu," a macular degeneration drug from Novartis (NVS). The note, which Piper could not obtain, reportedly details a side effect of Beovu that could lead to vision loss, which means "any doc currently prescribing the drug will likely 'freak out.'" Raymond believes as investors become more aware of this potential issue, shares of Regeneron, which makes competing treatments to Beovu, will move higher.
News For NVS;REGN From the Last 2 Days
REGN
Apr 12, 2021 | 09:28 EDT
Benchmark analyst Aydin Huseynov expects full FDA approval of Regeneron's (REGN) REGEN-COV could be coming within weeks, possibly in both 2.4g and 1.2g doses, citing the 70% reduction in risk of hospitalization or death in a 4,600-patient REGEN-COV randomized placebo-controlled trial in non-hospitalized COVID-19 patients as well as what he sees as "an apparent preference" for Regeneron's cocktail over Eli Lilly's (LLY). Huseynov has a Buy rating and $590 price target on Regeneron shares.