Why Regeneron Stock Is Trading Lower Today
Portfolio Pulse from Ryan Gustafson
Regeneron Pharmaceuticals' stock continues to fall after the FDA issued a Complete Response Letter (CRL) for aflibercept 8 mg Biologics License application due to an ongoing review of inspection findings at a third-party filler. This effectively denied the company approval of a higher-dose version of EYLEA. Several analysts also lowered their price targets on the stock.
June 28, 2023 | 7:53 pm
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Regeneron's stock price is falling due to FDA's denial of approval for a higher-dose version of EYLEA and lowered price targets by analysts.
The FDA's denial of approval for a higher-dose version of EYLEA is a significant setback for Regeneron, as it limits the company's product portfolio expansion. Additionally, several analysts have lowered their price targets on the stock, indicating a bearish outlook. Both these factors are likely to put downward pressure on the stock price in the short term.
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IMPORTANCE 90
RELEVANCE 100