Regeneron Pharma (REGN) PT Raised to $584 at UBS

UBS analyst Trung Huynh raised the price target on Regeneron Pharma (NASDAQ: REGN) to $584.00 (from $560.00) while maintaining a Neutral rating.

The analyst comments "UBS view on the quarter: We expect Eylea franchise beat; Pavblu impact expected more in 2H We are 2% above consensus expectations for 2Q financials. Importantly, this is driven by by our more positive expectations for the Eylea franchise, where we think consensus numbers have gone too far down post 1Q. We are above cons for the franchise ($1.09bn est vs. cons at $1.06bn), driven by c.+$55mn higher estimate on Eylea 2mg ($763mn vs. cons at $708mn, see details of our Eylea tracker inside). REGN has noted no significant inventory changes expected for Eylea for the quarter (unlike 1Q where we saw $120m drawdown). For Dupi, we are broadly in-line with expectations (UBSe $4.24bn vs. cons at $4.20bn)."

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