RBC Upgrades Regeneron to Outperform, Raises Stock Price Target

Summary

  • RBC Capital promotes Regeneron (NASDAQ:REGN) from Sector Perform to Outperform, raising the stock price target from $884 to $1,076 per share.
  • REGN’s “prolific” R&D activities and its Dupi achievement and HD’s positive beginning get highlighted by Analysts.
  • Despite concern over Street’s extreme enthusiasm for Eylea, analysts anticipate increased visibility around medium and long-term growth.
  • Though REGN shares have soared, analysts advocate buying at its current status due to the potential for more fundamental upside.

RBC Capital upgrades Regeneron’s rating

On Friday RBC Capital upgraded Regeneron’s (NASDAQ:REGN) rating from Sector Perform to Outperform. Furthermore, they also elevated the stock’s price target to $1,076, a significant jump from its previous $884 per share.

The Dupi achievement and HD Start

Analysts highlighted Regeneron’s incredible Research and Development pursuits in a client note. The Dupi’s win and high-definition (HD) initiative’s positive kick-off was also brought to attention.

Forecasting growth

Analysts expressed consistent admiration for Dupi’s sales prospect and several of REGN’s ambitious programs However, scepticism has been prevalent due to over-optimism for Eylea on the Street. They noted though, recent victories such as strong Eylea HD data, Dupi’s trial success in COPD, litigation victory over aflibercept biosimilar and effective pipeline progress, which they predict will reduce stress on present Eylea’s commercial success and deliver brighter visibility on medium to long term growth.

Increased faith in REGN shares

The analysts admitted to REGN’s shares enjoying substantial appreciation, suggesting that some investors may choose to await a pullback before participating. According to them, however, with the alleviation of immediate obstacles and the potential for significant fundamental improvement, the timing couldn’t be more perfect to invest in one of the most promising large-cap biotech companies in the market.

In forex and trading, the recent surge in Regeneron’s shares could influence continual investment in the NASDAQ and increase trading activities in the biotech sectors.

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