Regeneron Pharma (REGN) PT Cut at Baird on 'Uneventful Earnings'
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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."
Shares of Regeneron Pharma closed at $336.01 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRobert W Baird, Earnings
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