Roth Capital Confident in Full Sarilumab Approval; Affirms Regeneron (REGN) at 'Buy'

October 31, 2016 11:18 AM EDT
Get Alerts REGN Hot Sheet
Price: $362.40 -1.56%

Rating Summary:
    21 Buy, 17 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 32 | Down: 30 | New: 8
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Roth Capital affirms Regeneron Pharma (Nasdaq: REGN) at Buy with a price target of $520 following news that the company and Sanofi received an FDA complete response letter for Sarilumab. Sanofi has sent a "comprehensive action plan" to the FDA and will work for a timely resolution.

Analyst Joseph Pantginis commented: As we stated earlier [Friday], we believe this is a modest perception hit but we expect full eventual approval of sarilumab for RA as the CRL does not address any safety or efficacy issues. REGN and Sanofi are working closely and quickly with the FDA to address the problems as they have already submitted to the FDA and started implementing a comprehensive correction plan which we believe will be keep the delay in approval to a minimum. While this may drive some near-term negative perception, both sarilumab and dupilumab should represent new revenue drivers for REGN. Additionally, the company has the ability, in our belief, to driver long-term pipeline growth.

For an analyst ratings summary and ratings history on Regeneron Pharma click here. For more ratings news on Regeneron Pharma click here.

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