Regeneron Pharma (REGN) PT Lowered to $1,190 at BMO Capital

BMO Capital analyst Evan David Seigerman lowered the price target on Regeneron Pharma (NASDAQ: REGN) to $1,190.00 (from $1,300.00) while maintaining a Outperform rating.

The analyst commented, "Despite a top- and bottom-line beat, today's Eylea HD miss and commentary on the evolving competitive landscape left investors questioning the path for Regeneron's ophthalmology business into 2025. With the remainder of 2024 and early 2025 potentially pressured by Amgen's biosimilar entrance and Vabsymo's prefilled syringe formulation we have meaningfully reduced our 24/25 franchise estimates, lowering our target price to $1,190. Management reiterated on today's call the differentiated offering they have highlighting the stickiness of Eylea patients and potential acceleration in HD revenues come 2H25 following prefilled syringe launch."

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