Regeneron Pharma's Pipeline Makes This Analyst Turn Bullish
Portfolio Pulse from Priya Nigam
Regeneron Pharmaceuticals Inc (NASDAQ:REGN) won a lawsuit against Viatris Inc (NASDAQ:VTRS) over its Eylea patent, which, along with strong Dupixent sales and potential in the COPD market, has led BMO Capital Markets analyst Brian Abrahams to upgrade REGN from Sector Perform to Outperform with a new price target of $1,076. Abrahams anticipates Dupixent sales to reach $14.0 billion in 2024, surpassing consensus estimates. The recent patent win for Eylea and promising oncology programs like linvo and fianlimab are also positive indicators for REGN's stock. Following the news, REGN shares rose by 1.50% to $929.68.
January 12, 2024 | 3:18 pm
News sentiment analysis
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NEGATIVE IMPACT
Viatris Inc was involved in a lawsuit with Regeneron Pharmaceuticals over the Eylea patent, which Regeneron won. This legal outcome may have negative implications for Viatris.
The loss in the patent lawsuit against Regeneron for the Eylea patent could be seen as a negative development for Viatris, potentially limiting its ability to compete in this space. However, the impact may be moderated by the company's broader portfolio and other business activities. The relevance is significant but not as high as for Regeneron, as the news is primarily focused on the latter's positive developments.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Regeneron Pharmaceuticals upgraded to Outperform from Sector Perform by BMO Capital Markets with a raised price target from $884 to $1,076, driven by strong Dupixent sales, a favorable Eylea patent ruling, and promising oncology programs.
The upgrade by BMO Capital Markets is a strong positive signal for investors, indicating confidence in Regeneron's product pipeline and sales potential. The raised price target reflects an expectation of continued growth, particularly with Dupixent and the protection of the Eylea patent. The positive outlook on oncology programs adds to the potential upside. The recent stock price increase following the news suggests the market is responding well to the analyst's upgrade.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100