Regeneron (REGN): Cutting Estimates On Praluent Injunction - Baird

Baird analyst, Brian Skorney, reiterated his Neutral rating on shares of Regeneron Pharma (NASDAQ: REGN) and cut his price target to $369 from $379 after Amgen succeeded in getting a permanent injunction against sanofi/Regeneron for the marketing of the PCSK9 antibody, Praluent.

The company has 30 days to appeal the decision but the analyst thinks it's likely that REGN/SNY will be forced to settle and pay Amgen a substantial royalty, but that Praluent will not be pulled from the market.

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 $380.92 yesterday.

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