Cantor Fitzgerald Sticks to Its Hold Rating for Regeneron (REGN)

By Jason Carr

Cantor Fitzgerald analyst Alethia Young reiterated a Hold rating on Regeneron (REGNResearch Report) yesterday and set a price target of $441. The company’s shares closed on Friday at $406.86, close to its 52-week high of $431.32.

Young said:

“: We reiterate our Neutral rating and $441 price target. We are discussing incremental Regeneron and competitor updates from the Angiogenesis meeting at the Miami, which smid- cap analyst E. Merle attended. Overall, we see many efforts across academia and the industry to innovate beyond to achieve more durable anti-VEGF treatment options. With brolucizumab entering the market in late 2019, and many early-stage players on the horizon, we expect concerns about Eylea competition to remain in focus.”

According to TipRanks.com, Young is a 4-star analyst with an average return of 4.4% and a 45.2% success rate. Young covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Vertex Pharmaceuticals, and Sarepta Therapeutics.

Currently, the analyst consensus on Regeneron is a Moderate Buy with an average price target of $431.90, a 6.2% upside from current levels. In a report issued on February 7, BMO Capital also maintained a Hold rating on the stock with a $412 price target.

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Based on Regeneron’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $820 million. In comparison, last year the company had a net profit of $174 million.

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Regeneron Pharmaceuticals, Inc. engages in the discovery, invention, development, manufacture, and commercialization of medicines for the treatment of serious diseases. It products include the following brands: EYLEA, Dupixent, Praluent, Kevzara, ARCALYST, and ZALTRAP. The company was founded by Alferd G. Gilman, Leonard S. Schleifer, and Eric M. Shooter on January 8, 1988 and is headquartered in Tarrytown, NY.