Baird Upgrades Regeneron Pharma (REGN) to Outperform, Sees Continued Upside On Strong Eylea Uptake

Baird upgraded Regeneron Pharma (NASDAQ: REGN) from Neutral to Outperform with a price target of $81 on stronger-than-expected and anticipated stronger-than-guided Eylea uptake.

Analyst Raymond Christopher comments, "We have been skeptical of this name. However, yesterday’s blow-out Q411 Eylea number and above-consensus, but imminently-beatable FY12 guidance leaves us much more comfortable with valuation. Coupling that with our pre-approval survey data showing strong awareness and willingness to prescribe (even before REGN’s announced discount pricing strategy) we now model a much steeper launch trajectory, which we think can move the stock just north of $80."

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 $65.48 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Northland Upgrades Astera Labs (ALAB) to Outperform, 'Right Time, Customers, and Products'
• HSBC Upgrades YPF S.A. (YPF) to Buy
• JPMorgan Upgrades Genting Singapore (GENS:SP) (GIGNY) to Neutral