Regeneron Pharmaceuticals Stock Upgraded After Q3, But There Is A Headwind - Analyst Review
Portfolio Pulse from Vandana Singh
Regeneron Pharmaceuticals Inc (REGN) reported better-than-expected Q3 earnings, leading to an upgrade from Piper Sandler from Market Perform 3 to Outperform, with a price target of $950. The most significant short-term driver for Regeneron is the impending interim analysis of the Phase 3 NOTUS study in chronic obstructive pulmonary disorder, scheduled for Q4 2023. However, expected added R&D expenditures into 2024 could suppress earnings.
November 03, 2023 | 7:32 pm
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Regeneron's stock has been upgraded by Piper Sandler following better-than-expected Q3 earnings. The upcoming interim analysis of the Phase 3 NOTUS study is a key driver. However, increased R&D expenditures into 2024 could suppress earnings.
The upgrade by Piper Sandler is based on better-than-expected Q3 earnings and the potential positive outcome of the Phase 3 NOTUS study. However, the expected increase in R&D expenditures into 2024 could suppress earnings, which may negatively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100