Regeneron Pharma (REGN) PT Raised to $385 at Cowen

Cowen raised its price target on Regeneron Pharma (NASDAQ: REGN) to $385.00 (from $350.00) while maintaining a Market Perform rating.

Analyst Phil Nadeau commented, "REGN reported Q2:18 Eylea sales of $992MM, (+0.8% Q/Q, +8% Y/Y) just below the consensus $1BE. Solid performance from other key products and lower than anticipated costs drove a top- and bottom-line beat. Several regulatory decisions are set for H2 including Dupixent in asthma and cemiplimab for CSCC. With shares trading at ~19x our 2019 non-GAAP EPS estimate, we remain Market Perform."

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