Regeneron Pharma (REGN) PT Cut at Baird on 'Uneventful Earnings'

November 4, 2016 12:40 PM EDT
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Price: $362.28 -1.6%

Rating Summary:
    21 Buy, 17 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
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Baird analyst Brian Skorney lowered his price target on Neutral-rated Regeneron Pharma (NASDAQ: REGN) to $379.00 (from $448.00) following "uneventful earnings."

Skorney commented, "Though earnings were relatively uneventful and the company pulled out an EPS beat on lower operating expenses, Eylea growth continues to slow ahead of a high-cost 2017 as dupilumab and (mostly likely) sarilumab are launched. We continue to expect the Street to take down estimates on the Sanofi collaboration as Praluent sales stagnate, reimbursement of R&D expenses flatten, and sarilumab launch is delayed. We are lowering our price target to $379."

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 $336.01 yesterday.

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