Boenning & Scattergood Starts Regeneron Pharma (REGN) at Outperform; Share Price Volatility Likely to Create Buying Opportunity for L-T Investors
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Price: $254.87 -2.88%
Rating Summary:
12 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
12 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade REGN Now!
Boenning & Scattergood initiates coverage on Regeneron Pharma (NASDAQ: REGN) with an Outperform. PT $58.
Boenning analyst says, "We view Regeneron’s VEGF-Trap-Eye (VTE) as a potentially game-changing asset that substantially reduces treatment burden for patients and care givers and, despite obvious competitive pressures, is likely to gain at least 13% U.S. market share for the treatment of multiple ophthalmic indications. While investors have been focused on the fallout of key competitor data (CATT) on Regeneron’s shares, we don’t believe the trial will provide anything that physicians do not already know. Our model assumes the CATT trial will demonstrate that Avastin is comparable but not superior to Lucentis, and we expect Avastin to capture at least 80% of the market based on price. However, during our conversations with physicians, VTE’s 41% reduction in intravitreal injections and stellar disease modifying properties stood out as compelling attributes that are likely to encourage uptake in newly diagnosed patients even in the highly price-sensitive macular degeneration market."
For more ratings news on Regeneron Pharma click here and for the rating history of Regeneron Pharma click here.
Shares of Regeneron Pharma closed at $52.14 yesterday, with a 52 week range of $20.45-$52.22.
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Boenning analyst says, "We view Regeneron’s VEGF-Trap-Eye (VTE) as a potentially game-changing asset that substantially reduces treatment burden for patients and care givers and, despite obvious competitive pressures, is likely to gain at least 13% U.S. market share for the treatment of multiple ophthalmic indications. While investors have been focused on the fallout of key competitor data (CATT) on Regeneron’s shares, we don’t believe the trial will provide anything that physicians do not already know. Our model assumes the CATT trial will demonstrate that Avastin is comparable but not superior to Lucentis, and we expect Avastin to capture at least 80% of the market based on price. However, during our conversations with physicians, VTE’s 41% reduction in intravitreal injections and stellar disease modifying properties stood out as compelling attributes that are likely to encourage uptake in newly diagnosed patients even in the highly price-sensitive macular degeneration market."
For more ratings news on Regeneron Pharma click here and for the rating history of Regeneron Pharma click here.
Shares of Regeneron Pharma closed at $52.14 yesterday, with a 52 week range of $20.45-$52.22.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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