Regeneron Pharma (REGN) PT Raised to $669 at BMO Capital

August 5, 2021 3:58 PM EDT
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Price: $619.07 -3.1%

Rating Summary:
    29 Buy, 14 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 9 | Down: 10 | New: 35
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BMO Capital analyst Matthew Luchini raised the price target on Regeneron Pharma (NASDAQ: REGN) to $669.00 while maintaining an Outperform rating.

The analyst commented, "Regeneron reported a top- and bottom-line beat, driven largely by REGEN-COV, though Eylea and Dupixent also exceeded expectations. 2Q also saw important clinical progress with positive Phase 3 Libtayo chemo combo study stopped early on survival benefit. We continue to see potential for strong performance from Regeneron's core products with ongoing Dupixent label expansion efforts and oncology pipeline progress providing mid- to long-term growth opportunities. We update our model for 2Q results and run rates, rolling our DCF forward to mid-2022, and taking our target to $669. Reiterate Outperform."

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