Regeneron (REGN – Research Report), 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.
John Newman has given his Buy rating due to a combination of factors influencing Regeneron’s stock. Despite facing challenges with the EYLEA product line, including competition from biosimilars and potential tariff impacts, Newman sees potential in the company’s long-term growth prospects. The Factor XI program is highlighted as a significant opportunity, with promising Phase 2 data suggesting it could capture a substantial market share if successful.
Additionally, while the near-term outlook for EYLEA is uncertain due to competition and slow adoption of EYLEA HD, there are positive indicators for future growth. The anticipated launch of a pre-filled syringe and label expansions could boost EYLEA HD sales in the latter half of the year. Overall, Newman maintains a positive outlook on Regeneron’s ability to diversify its revenue streams and capitalize on new market opportunities, justifying the Buy rating despite the lowered price target.
According to TipRanks, Newman is an analyst with an average return of -6.8% and a 31.20% success rate. Newman covers the Healthcare sector, focusing on stocks such as Candel Therapeutics, Regeneron, and Adicet Bio.
In another report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $925.00 price target.