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Regeneron price target raised to $640 from $600 at BMO Capital

BMO Capital raised the firm’s price target on Regeneron (REGN) to $640 from $600 and keeps an Outperform rating on the shares. The company’s strong Q2 print marks a step of progress in the longer journey of regaining the competitive positioning of the company’s Eylea franchise, though clinical and regulatory missteps continue to weigh on the shares, the analyst tells investors in a research note. Regeneron’s core focus into the second half remains commercial execution and clearance of regulatory hurdles with approval of key Eylea HD label expansions, BMO added.

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