Baird Releases Bullish Note on Regeneron (REGN), Eylea Taking Share
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Price: $663.09 --0%
Rating Summary:
29 Buy, 19 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 1
Rating Summary:
29 Buy, 19 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 1
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Today analysts a Baird put out a very bullish note on Regeneron Pharma (NASDAQ: REGN). In the note, analysts reiterated an Outperform rating and raised thier price target to $205.00 (from $176.00). Analyst also noted strong uptake of Eylea, which continues to take share from Lucentis and Avastin.
"Eylea wet AMD share is now 15% (June 10%), as both physician trial and depth of prescribing continue to grow nicely. Share gains still coming from both Lucentis (now 25% from 28%) and Avastin (now 58% from 60%)," said analyst Christopher J. Raymond.
Raymond also noted that following the NECC compounding pharmacy-related meningitis outbreak in October, almost one-third of respondents have since decreased their use of compounded Avastin.
"By May, docs project Eylea share of 26%, overtaking Lucentis (19%). Peak overall Eylea share is now 72%, regardless of line of therapy. While peak preference share is typically inflated, both these numbers are the highest we've yet seen them, so clearly trending in the right direction," said Raymond.
For an analyst ratings summary and ratings history on Regeneron Pharma (NASDAQ: REGN) click here. For more ratings news on Regeneron Pharma click here.
Shares of Regeneron Pharma closed at $179.40 yesterday.
"Eylea wet AMD share is now 15% (June 10%), as both physician trial and depth of prescribing continue to grow nicely. Share gains still coming from both Lucentis (now 25% from 28%) and Avastin (now 58% from 60%)," said analyst Christopher J. Raymond.
Raymond also noted that following the NECC compounding pharmacy-related meningitis outbreak in October, almost one-third of respondents have since decreased their use of compounded Avastin.
"By May, docs project Eylea share of 26%, overtaking Lucentis (19%). Peak overall Eylea share is now 72%, regardless of line of therapy. While peak preference share is typically inflated, both these numbers are the highest we've yet seen them, so clearly trending in the right direction," said Raymond.
For an analyst ratings summary and ratings history on Regeneron Pharma (NASDAQ: REGN) click here. For more ratings news on Regeneron Pharma click here.
Shares of Regeneron Pharma closed at $179.40 yesterday.
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