Regeneron price target lowered to $560 from $633 at UBS

UBS lowered the firm’s price target on Regeneron (REGN) to $560 from $633 and keeps a Neutral rating on the shares. Regeneron recently announced several corporate and pipeline updates, including the acquisition of 23andMe for $256M, topline readout from the itepekimab Phase 3 AERIFY-1/2 trials in COPD, the interim analysis from the Phase 2 COURAGE study, and the licensing of ex-China rights for a Phase 3 GLP-1/GIP RA asset from Hansoh, the analyst tells investors in a research note. The Eylea franchise weakness remains a key overhang for the firm’s near-term thesis.