RBC Capital raised the firm’s price target on Regeneron (REGN) to $708 from $704 and keeps a Sector Perform rating on the shares after its Q3 earnings beat. The company reported solid Eylea franchise performance in the face of concerns and headwinds, and incrementally more visibility around label enhancement backup plans, the analyst tells investors in a research note. Against the backdrop of depressed sentiment and valuation, the call highlighted Regeneron’s extensive shots on goal to diversify around Eylea/Dupixent from what is arguably the broadest pipeline in biopharma, the firm added.
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