Regeneron price target lowered to $650 from $700 at Citi

Citi analyst Geoff Meacham lowered the firm’s price target on Regeneron (REGN) to $650 from $700 and keeps a Buy rating on the shares. The company reported mixed itepekimab Phase 3 COPD results in former smokers, the analyst tells investors in a research note. The firm says that wWhile Aerify-1 met its primary endpoint in both dosing arms, Aerify-2 failed to achieve statistical significance improvement at week 52. While Aerify-1 was positive, the path to approval is unclear, contends Citi.