Regeneron, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst John Newman from Canaccord Genuity maintained a Buy rating on the stock and has a $850.00 price target.
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John Newman’s rating is based on several strategic considerations regarding Regeneron’s prospects. Despite some challenges with the EYLEA franchise, Newman maintains a positive outlook due to the potential of Regeneron’s semaglutide and trevogrumab combination. This combination shows promise in muscle preservation, particularly in Alzheimer’s patients, a market with growing interest in GLP-1 therapies.
Moreover, the potential positive outcomes from Novo’s clinical trials could enhance investor interest in Regeneron’s program, especially given the muscle-sparing benefits of their treatments. Newman believes that if Novo’s results are favorable, Regeneron might explore further applications of trevogrumab and garetosmab in combination with GLP-1 for Alzheimer’s disease, reinforcing the Buy rating with a target price of $850.
In another report released today, Bernstein also maintained a Buy rating on the stock with a $781.00 price target.