Regeneron price target lowered to $810 from $940 at Guggenheim

Guggenheim lowered the firm’s price target on Regeneron (REGN) to $810 from $940 and keeps a Buy rating on the shares. Q1 performance came in “significantly below our already low expectations on a struggling Eylea franchise,” which has been impacted by both competitive pressures and regulatory setbacks, the analyst tells investors. Following the report, the firm is lowering Eylea estimates based on the increased competitive pressure and commercial dynamic and the lack of color on when the company might start to see some recovery, the analyst added.