Wells Fargo lowered the firm’s price target on Regeneron (REGN) to $700 from $750 and keeps an Overweight rating on the shares. The firm says Q1 results reinforce need for Eylea reset and its revised estimates lower its price target However, Wells sees above-average 5-year top/bottom-line CAGR post this rebasing year. Pipeline execution is crucial for Regeneron to shift narrative away from Eylea, the firm argues.
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Read More on REGN:
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