Needham & Company Maintains a 'Buy' on Regeneron Pharma (REGN); Upcoming August Event May Signal August Opportunities

Needham & Company maintains a 'Buy' on Regeneron Pharma (NASDAQ: REGN) price target of $60.

Needham analyst says, "Regeneron recently reviewed 2Q11 results and 2H11 expected progress. The Company has made significant gains in product development and is transforming into a commercial company, with potentially three products on the market during the next year. For EYLEA, we are positively inclined towards the approval of EYLEA in wet AMD by the August 20 PDUFDA date: in addition, the Company intends to submit a sBLA for EYLEA for CRVO in the US in 2H11. For ZALTRAP, the positive results in 2nd line CRC provided an upside surprise, and sanofi and Regeneron plan to submit market applications in both the US and the EU in 2H11. For ARCALYST, an sBLA submission for the prevention of gout flares is expected 2H11. We continue to believe the opportunity in gout is under appreciated, and we believe the recent negative FDA panel for Ilaris (Novartis (NYSE: NVS)(NotRated) may represent an opportunity for ARCALYST to become the first anti-IL1 treatment in gout. While all three products are entering competitive marketplaces, we believe the company partners sanofi and Bayer (both N/R) as well as the differentiated clinical data serve to decrease commercialization risk. The Company also has a robust pipeline with 7 mAb in clinical development: we are favorably inclined towards REGN727 (anti-PCSK9 mAb) in Phase 2 trials in cholesterol management."

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 $53.06 yesterday.

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