Deutsche Bank Raises Price Target on Regeneron Pharma (REGN); First Glimpse at Execution Ability

Deutsche Bank maintains a 'Buy' on Regeneron Pharma (NASDAQ: REGN), raises price target from $76 to $80.

Deutsche analyst says, "Strong 4Q11 sales & '12 guidance above street consensus...Guidance likely reflects caution that initial sales are boosted by bolus of Avastin/Lucentis refractory patients...One month of sales not enough for us to raise our peak ests of ~$1.2B for Eylea in the US: We maintain our peak sales for Eylea WW (AMD/DME/CRVO) of $1.9B by 2018 & our 2012 est of $164M. We want to see (1) Lucentis IMS sales as insight into competitor trends & (2) another quarter of sales to get a better sense on how much new market share Eylea can take. Our peak sales est depends on adoption in NAIVE patients."

"As long as Regeneron continues to execute, we believe investors will begin to assign greater value to their pipeline & ability to develop/launch products."

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.

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