Analyst Salveen Richter of Goldman Sachs maintained a Buy rating on Regeneron (REGN – Research Report), reducing the price target to $1,182.00.
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Salveen Richter has given his Buy rating due to a combination of factors surrounding Regeneron’s stock. Despite the challenges faced by the Eylea franchise, which has seen a significant drop in share value, Richter sees potential for growth through upcoming catalysts that could enhance Eylea HD’s market position. This optimistic outlook is further supported by Regeneron’s diversified pipeline, which includes promising developments in areas such as obesity, thrombosis, severe food allergy, and oncology.
Richter also highlights the importance of the Eylea franchise within Regeneron’s sales structure, particularly in treating major retinal diseases. While acknowledging the risks, the analyst underscores the opportunity for share price recovery if management can address uncertainties around Eylea 2mg’s performance and meet expectations for future growth. As such, Regeneron’s stock is positioned as a potentially lucrative investment, contingent upon strategic execution and favorable market developments.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $970.00 price target.