In a report released today, Terence Flynn from Morgan Stanley maintained a Buy rating on Regeneron (REGN – Research Report), with a price target of $958.00.
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Terence Flynn’s rating is based on the promising potential of Regeneron’s pipeline, particularly the anticipated results from the Phase 3 trials of Itepekimab (Ite) for COPD. These trials, expected to report top-line data around mid-year, are seen as a significant catalyst for Regeneron, with projected 2033 sales of $3.7 billion, adjusted for risk by a 60% probability of success.
Furthermore, Itepekimab has the potential to significantly expand the addressable COPD population, potentially more than doubling it compared to Dupixent, another Regeneron product recently approved for COPD. The ongoing trials primarily focus on former smokers, a key target demographic, and have already passed an interim futility analysis, indicating promising efficacy. These factors contribute to Flynn’s optimistic outlook and Buy rating for Regeneron’s stock.
Flynn covers the Healthcare sector, focusing on stocks such as BioNTech SE, Gilead Sciences, and Eli Lilly & Co. According to TipRanks, Flynn has an average return of 4.1% and a 54.71% success rate on recommended stocks.
In another report released on May 1, Guggenheim also maintained a Buy rating on the stock with a $810.00 price target.