Novo Nordisk’s (NVO) update that the FDA classified Catalent’s facility as “Official Action Indicated” raises the risk of further delay for Regeneron’s (RGEN) EYLEA HD prefilled syringe, which is produced at the same site, Canaccord tells investors in a research note. Despite ongoing EYLEA franchise headwinds, the firm maintains a Buy rating and $850 price target on Regeneron, as upcoming data on Novo’s semaglutide in Alzheimer’s disease could spotlight Regeneron’s related muscle-sparing programs. A positive readout could also prompt Regeneron to explore combining trevogrumab and/or garetosmab with a GLP-1 therapy for Alzheimer’s, the firm adds.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RGEN:
- Repligen price target raised to $160 from $150 at Barclays
- Repligen’s Growth Potential: A Buy Rating Backed by Innovation and Strategic Positioning
- Repligen initiated with a Buy at HSBC
- Repligen upgraded to Outperform from In Line at Evercore ISI
- Repligen price target raised to $205 from $204 at RBC Capital