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Fly News Breaks for February 26, 2020
Feb 26, 2020 | 07:07 EDT
Credit Suisse analyst Evan Seigerman raised his price target for Regeneron (REGN) to $510 from $420 while maintaining his Outperform rating on the shares and saying it remains his top pick for 2020. The analyst notes that recent reports from the American Society of Retina Specialists suggest that realworld usage of competitor Novartis' (NVS) Beovu could lead to vasculitis and potentially blindness caused by a more serious variant called occlusive retinal vasculitis. While still rare, with 14 cases of vasculitis out of 46k injections to date in the U.S., he thinks the headline risk and warning from the ASRS could be enough to significantly slow usage of Beovu in wAMD and eventual usage in other eye conditions, including DR, DME, and RVO. Given the long-term safety record of Regeneron's Eylea and comparable efficacy profile, Seigerman believes clinicians will opt to use Eylea as their mainstay treatment going forward.
News For REGN;NVS From the Last 2 Days
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.