Regeneron initiated with an Overweight at Barclays

Barclays initiated coverage of Regeneron (REGN) with an Overweight rating and $923 price target The shares are “fundamentally mispricing” the company’s profits from Dupixent over the near- and medium-term, the analyst tells investors in a research note. Barclays also believes Regeneron’s pipeline opportunities are undervalued at current share levels, particularly Lynozyfic. The firm views Dupixent indication expansion as an “underappreciated tailwind” for the company.