Leerink Partners Raises Price Target on Regeneron (REGN) Following Praluent's approval and Pricing Upside

Leerink Partners reiterated an Outperform rating on Regeneron Pharma (NASDAQ: REGN), and raised the price target to $630.00 (from $559.00), following Praluent's approval with a relatively broad label, and pricing upside. Analyst Joseph Schwartz raised estimates for the addressable patient pool for REGN-2176.

Schwartz commented, "Following Praluent's approval with a relatively broad label, and pricing upside, announced late last week and reflecting the scenario analysis detailed in our Retinal Disease white paper (LINK) published today, we are raising our estimates for the addressable patient pool for REGN-2176. Our base case now estimates that 25% of patients on anti-VEGF therapy in need of an additional mechanism such as anti-PDGF, translates into peak revenue of $2B in 2031. Reiterate Outperform, raise PT to $630 from $559."

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 $553.66 yesterday.

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