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Fly News Breaks for February 26, 2020
NVS, REGN
Feb 26, 2020 | 05:04 EDT
Baird analyst Brian Skorney downgraded Regeneron Pharmaceuticals (REGN) to Neutral from Outperform with an unchanged price target of $410. The stock closed Tuesday up 4% to $442.35. The analyst appreciates the "tailwind granted by safety concerns" related to Eylea competitor, Novartis' (NVS) Beovu, he notes the shares are up 50% since his August 2019 upgrade. While the fall of Beovu certainly near-term pressure on Eylea market share, this has now been accounted for in the share price, Skorney tells investors in a research note. Skorney adds that while Dupixent and Regeneron's pipeline "continue to look good," he prefers to take a "wait and see approach."
News For REGN;NVS 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.