Leerink Swann Reiterates an 'Outperform' on Regeneron Pharma (REGN); Survey Says: Solid Eylea Outlook in U.S.
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Price: $834.04 +0.90%
Rating Summary:
29 Buy, 19 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
29 Buy, 19 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Leerink Swann reiterates an 'Outperform' on Regeneron Pharma (NASDAQ: REGN) valuation range $121-$127.
Analyst, Joshua Schimmer, said, "Eylea is off to a strong start for treatment of wet AMD, although some investors have expressed concerns regarding the risk of sterile endophthalmitis that was reported on the company's 4Q:11 earnings call. While we thought REGN did an excellent job allaying concerns by disclosing that endophthalmitis rates were driven primarily by experience at a single center, we still thought it was prudent for MEDACorp to survey retina specialists to gauge their level of concern regarding this potential complication and assess projected level of Eylea uptake on a broader basis."
"Only a minority of specialists were perturbed by the endophthalmitis risk, and survey respondents still project strong overall uptake of Eylea. Should their projections prove accurate, Eylea would be positioned to meaningfully beat our and consensus estimates. We are already at the high end of the $250-300M U.S. Eylea 2012 revenue guidance and toward the high end of Street estimates, and are not revising our projections, but our confidence that our projections may prove conservative is increased."
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 $108.80 yesterday.
Analyst, Joshua Schimmer, said, "Eylea is off to a strong start for treatment of wet AMD, although some investors have expressed concerns regarding the risk of sterile endophthalmitis that was reported on the company's 4Q:11 earnings call. While we thought REGN did an excellent job allaying concerns by disclosing that endophthalmitis rates were driven primarily by experience at a single center, we still thought it was prudent for MEDACorp to survey retina specialists to gauge their level of concern regarding this potential complication and assess projected level of Eylea uptake on a broader basis."
"Only a minority of specialists were perturbed by the endophthalmitis risk, and survey respondents still project strong overall uptake of Eylea. Should their projections prove accurate, Eylea would be positioned to meaningfully beat our and consensus estimates. We are already at the high end of the $250-300M U.S. Eylea 2012 revenue guidance and toward the high end of Street estimates, and are not revising our projections, but our confidence that our projections may prove conservative is increased."
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 $108.80 yesterday.
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