Deutsche Bank Reiterates Bullish Stance on Regeneron (REGN)

Deutsche Bank reiterated their Buy rating and $165 price target on Regeneron Pharma (NASDAQ: REGN) following results this morning.

The firm said Eylea should continue to growth and competition is still far off.

"We believe current selling is overdone as anti-PDGF will unlikely be a competition to Eylea unless the competitors 1) Collaborate with Opthotech AND 2) Come up with a right co formulated dose which can be given as a single injection in the eye in combination with Lucentis. We continue to see Eylea uptake and believe Eylea will grow more once permanent J code gets on-line in Jan-2013... We note that even in the event of successful co-formulation, the competition will have to go through large clinical studies and regulatory approval process. We do not see any competition coming in play before 2017 timeframe."

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 $121.44 yesterday.

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