In a report released yesterday, Evan Seigerman from BMO Capital maintained a Buy rating on Regeneron, with a price target of $640.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Evan Seigerman has given his Buy rating due to a combination of factors including the promising results from Regeneron’s recent Phase 3 trials for their cat and birch allergy antibody cocktails. The data demonstrated significant reductions in symptoms such as ocular itch, conjunctival redness, and skin prick reactivity, with particularly strong results for patients with cat allergies driven by the FelD1 allergen. This indicates a robust clinical efficacy that could address a substantial unmet need in allergy treatment.
Despite the impressive clinical outcomes, Seigerman acknowledges the uncertainty surrounding the commercial potential of these treatments, given the dominance of generic antihistamines in the market. However, he remains optimistic about Regeneron’s broader business prospects, highlighting the company’s strong oncology franchise and the potential of its early-stage pipeline. Seigerman believes that Regeneron’s effective translation of research and development investments into enterprise value growth positions it well for long-term success in the biotech sector.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $639.00 price target.