Regeneron Pharmaceuticals Stock (REGN): Why The Price Increased Today

By Amit Chowdhry ● Dec 9, 2021
  • The stock price of Regeneron Pharmaceuticals Inc (NASDAQ: REGN) increased by 1.79% today. This is why it happened.

The stock price of Regeneron Pharmaceuticals Inc (NASDAQ: REGN) increased by 1.79% today. Investors are responding positively to a bullish research report.

Wells Fargo analyst Mohit Bansal assigned Regeneron Pharmaceuticals a $750 price target while initiating an “Overweight” rating on the shares. Bansal cited the potential of high-dose Eylea (aflibercept) in helping to maintain dominance in wet age-related macular degeneration and diabetic macular edema.

Bansal believes that there is a 50% likelihood of approval for Eylea. And assuming approval with 25% of current patients switching to the high-dose formulation and biosimilar capturing a 50% share, this would create a scenario that would add $115 per share on the upside. Plus Bansal said that Dupixent (dupilumab) could grow in atopic dermatitis and other indications. 

For the fiscal year 2022, Bansal also estimates sales of the company’s COVID-19 treatment REGEN-COV at about $1 billion.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.