Baird Reiterates an 'Outperform' on Regeneron Pharma (REGN); Think This Stock Still Has Legs

Baird reiterates an 'Outperform' on Regeneron Pharma (NASDAQ: REGN) price target raised from $100 to $110.

Baird analyst says, "With shares up 55% since EYLEA's blow-out Q411 pre-release, we acknowledge the urge to take profits here. However, after raising our EYLEA estimates to reflect a stronger launch (layering in DME, greater AMD share gains); we now believe fair value is closer to $110/share. Therefore, we remain buyers."

"We are also modestly raising our numbers in wet AMD to reflect increased share gains at the expense of Lucentis. Our new FY13-FY15 US EYLEA revenue estimates are $409M, $671M and $1.04B, respectively."

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 $101.14 yesterday.

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