J.P. Morgan analyst Chris Schott has maintained their bullish stance on REGN stock, giving a Buy rating on May 5.
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Chris Schott has given his Buy rating due to a combination of factors that suggest Regeneron’s stock is undervalued and poised for growth. Despite a significant decline in Regeneron’s stock price, Schott believes that the company’s strong cash position and the performance of key products like Dupixent and Eylea provide a solid foundation for its current valuation. The recent pullback in stock price, largely attributed to macroeconomic uncertainties and challenges with Eylea, presents an opportunity as these issues are reflected in the current valuation.
Furthermore, Schott highlights the potential of Regeneron’s pipeline, which includes promising late-stage programs such as LAG3 in melanoma and IL-33 in COPD. These developments, along with expected growth in Dupixent revenues and potential product enhancements for Eylea, support a positive outlook for Regeneron. Schott anticipates that the company’s shares are oversold and likely to recover as new data readouts emerge, reinforcing the Buy rating.
Schott covers the Healthcare sector, focusing on stocks such as Gilead Sciences, Pfizer, and Eli Lilly & Co. According to TipRanks, Schott has an average return of 0.5% and a 48.86% success rate on recommended stocks.
In another report released on May 5, TD Cowen also maintained a Buy rating on the stock with a $800.00 price target.