Regeneron (REGN) Shares Punished as Analyst Warns on Eylea Growth

Shares of Regeneron Pharma (Nasdaq: REGN) have tumbled nearly 9 percent Friday morning and seem to be holding below support/resistance around $125 as traders are considering some concerning comments from Cowen's Phil Nadeau.

Following a recent survey conducted by Cowen, Nadeau warned Regeneron's Eylea continues to add patients at a decelerating pace compared to previous surveys. The analyst pointed out the number of Eylea patients rose by just 207 (~22 percent) from March to May, sharply below growth of 565 patients (~155 percent) over the January to March period.

Nadeau said Eylea may have seen positive effects from earlier-than-expected "launch bolus" where pent-up demand for the product converged with a requirement for new Eylea patients to get more frequent injections than mid- or late-cycle patients.

The Cowen analyst maintains a Neutral rating on shares of Regeneron.

Visit our Analyst Ratings page to track all the market-moving calls on shares of Regeneron.

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