Jefferies Trims Target on Regeneron Pharma (REGN) After Arcalyst News, Keeps Buy Rating
Tweet Send to a FriendGet Alerts REGN Hot Sheet
Price: $263.64 -1.25%
Rating Summary:
12 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 6
Rating Summary:
12 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 6
Trade REGN Now!
Jefferies trimmed its price target on Regeneron Pharma (NASDAQ: REGN) from $163 to $161 after the FDA rejects arcalyst for gout flares but maintained their Buy rating.
The firm comments, "In an unsurprising outcome, the FDA's Arthritis Advisory Committee voted 11-0 recommending against approval of REGN's Arcalyst as a short-term treatment for gout flares. Given the bearishness of the FDA's review documents released on Friday, the outcome appears in line with the tone of the briefing documents. However, the gout flares indication represents little value (~$2/share), and therefore we reiterate our Buy rating."
FY12 EPS rises from $0.38 to $0.64 and FY13 from $3.13 to $3.44.
For an analyst ratings summary and ratings history on Regeneron Pharma click here. For more ratings news on Regeneron Pharma click here.
Shares of Regeneron Pharma closed at $130.93 yesterday, with a 52 week range of $42.83-$145.04.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The firm comments, "In an unsurprising outcome, the FDA's Arthritis Advisory Committee voted 11-0 recommending against approval of REGN's Arcalyst as a short-term treatment for gout flares. Given the bearishness of the FDA's review documents released on Friday, the outcome appears in line with the tone of the briefing documents. However, the gout flares indication represents little value (~$2/share), and therefore we reiterate our Buy rating."
FY12 EPS rises from $0.38 to $0.64 and FY13 from $3.13 to $3.44.
For an analyst ratings summary and ratings history on Regeneron Pharma click here. For more ratings news on Regeneron Pharma click here.
Shares of Regeneron Pharma closed at $130.93 yesterday, with a 52 week range of $42.83-$145.04.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UBS Raises PT on Tesoro (TSO)
- Brean Capital Raises Onyx (ONXX) Price Target to $115
- Morgan Stanley Says Tesla (TSLA) 'Top Pick in U.S. Autos'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst PT ChangeRelated Entities
Jefferies & Co
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
