Baird Downgrades Regeneron Pharma (REGN) to Underperform

Baird downgraded Regeneron Pharma (NASDAQ: REGN) from Neutral to Underperform with a price target of $408.00.

Analyst Brian Skorney comments "we believe investor expectations for this product have stretched the valuation beyond what is reasonable based on initial launch metrics. We believe REGN shares could give back a good portion of the move it had since April, when initial Rx data and management commentary sent expectations for this launch into the stratosphere."

FY 2017 EPS estimate rises from $12.49 to $12.61 and FY 2018 EPS estimate falls from $16.18 to $15.64.

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 $491.62 yesterday.

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