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Regeneron price target lowered to $600 from $800 at BMO Capital

BMO Capital lowered the firm’s price target on Regeneron (REGN) to $600 from $800 and keeps an Outperform rating on the shares. The firm is updating its model following “disappointing” results for itepekimab in COPD, noting that with only one of the two phase 3 studies reaching statistical significance and the path forward for approval more difficult, it is lowering its probability of success for itepekimab to 0%, the analyst tells investors in a research note.

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