Bernstein Weighs In on Regeneron Pharma (REGN) Following Tessera Deal

Bernstein SocGen Group analyst William Pickering reiterated an Outperform rating and $818.00 price target on Regeneron Pharma (NASDAQ: REGN).

The analyst commented: "Thoughts on Tessera deal, and readthrough to BEAM and CRSP; REGN announced this morning a collab with Tessera Therapeutics (private) to develop TSRA-196 in AATD. The agreement includes $150M upfront in cash and equity, and potential for $125M in near/mid-term milestones. Development costs and commercialization profits will be split 50/50.

TSRA-196 is a one-and-done gene editor that uses Tessera’s gene writing technology. Compared to other DNA editing approaches, Tessera’s is more similar to CRSP than BEAM. Both Tessera and CRSP use target-primed reverse transcription (TPRT), while Beam uses base editing.. Tessera intends to file an IND and multiple CTA’s by YE25 and begin human testing next year."

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 $750.32 yesterday.

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