Regeneron Pharma (REGN) Eylea DME Efficacy Data Better Than Anticipated, Says RBC

RBC Capital maintained an Outperform rating on Regeneron Pharma (NASDAQ: REGN) with a price target of $373. Comments follow data for EYLEA vs. Avastin and Lucentis in DME. In the view of analyst Adnan Butt, results were better than anticipated.

"Eylea showed better efficacy than Avastin or Lucentis in DME patients in the NIH sponsored DRCR.net comparison study. The outcome is better than expected because in addition to better efficacy, Eylea also showed better safety, especially compared to Lucentis for APTC and cardiovascular events. DRCR.net data has been something that gets brought up as a modest overhang for Eylea’s potential and REGN shares, and today’s results are likely to show that if anything they help Eylea’s launch in DME, with the potential to be even more impactful if differences persist at 2- years. The final study data are likely out in 2015," said Butt.

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 $340.71 yesterday.

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