Baird Maintains a 'Neutral' on Regeneron Pharma (REGN) Following Roche's Q311 Lucentis Update

Baird maintains a 'Neutral' on Regeneron Pharma (NASDAQ: REGN) price target of $56.00.

Baird analyst says, "While failure of the higher-dose arms in Lucentis' HARBOR study is a clear positive, the lower (0.5mg) PRN dose remains on the table with FDA, and revenue numbers show Lucentis is clearly flattening post-CATT. Accordingly, we see little to change our thesis that Eylea faces a shrinking and increasingly price-sensitive branded market and less differentiation on dosing. Combining this with high launch expectations, we continue to prefer the sidelines."

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 $63.00 yesterday.

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