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Fly News Breaks for February 24, 2020
NVS, REGN
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
Jun 5, 2020 | 14:11 EDT
Preliminary research involving 19 patients shows signs that AstraZeneca's (AZN) blood cancer drug Calquence may help hospitalized COVID-19 patients get through the worst of the disease, Reuters reported, citing results in a paper co-authored by the drugmaker's head of oncology research. The executive, Jose Baselga, told Reuters: "These patients were in a very unstable situation, they would have had a dire prognosis ... Within one to three days the majority of these patients got better in terms of ventilation and oxygen needs." Other autoimmune disease drugs that are being tested for their ability to combat the over-reaction of the immune system, known as "cytokine storm," that is seen in severe COVID-19 cases include Regeneron (REGN) and Sanofi's (SNY) Kevzara, Roche's (RHHBY) Actemra and Morphosys (MOR) and GlaxoSmithKline's (GSK) otilimab, the report noted. Reference Link