Leerink: 'We continue to recommend REGN shares'
Leerink Partners analyst Andrew Berens reiterated an Outperform rating and $645.00 price target on Regeneron Pharma (NASDAQ: REGN).
The analyst comments "Bottom Line: We continue to recommend REGN shares based upon improving growth prospects and attractive valuation. We project 5-yr (2025-2030) CAGR rev +7% and EPS +10%. Mgmt emphasized Lynozyfic’s (linvoseltamab) exceptional profile in multiple myeloma and announced plans to initiate a HTH trial vs. Darzalex in 4Q (see paragraph below). Although Catalent (contract manufacturer) issues resulted in FDA approval delays for odronextamab (lymphoma) and Eylea HD (monthly dosing, pre-filled syringe, and RVO indication), mgmt. expects expedited resolution, so we are anticipating approvals by the end of the year. Additionally, the fianlimab + Libtayo vs. pembrolizumab Ph3 trial in first-line unresectable/metastatic melanoma has experienced a readout delay due to slower-than-expected PFS event accrual. The timing for the readout has now shifted to late 2025 or early 2026. The next key pipeline catalyst is the pozelimab & cemdisiran combination Ph3 NIMBLE trial (N=335; NCT05070858) in generalized Myasthenia Gravis; we expect topline results in 3Q25. Note that investor expectations are low for this program due to combo toxicity concerns. Reiterate OP rating on REGN shares."
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Shares of Regeneron Pharma closed at $558.87 yesterday.