ANALYST: Regeneron Guidance misses Consensus; Morgan Stanley not concerned due to expanded pipeline

Morgan Stanley on Tuesday issued a report on Regeneron Pharmaceuticals Inc. REGN after the company reported guidance that was below estimates. Regeneron is currently rated as Overweight with a price target of $499.00. Analysts Matthew Harrison, Matthew Pommer, and Amy Le wrote, " the expanded pipeline (2 blockbuster/potential blockbuster approved assets by 2015 year end and 4-5 Phase III programs) is impressive and points to the potential for sustained long-term growth." The analysts gives 2 key updates on the pharmaceutical company. 1. All of Medicare and 98% of commercial lives have coverage for Eylea, making Regeneron's drug high in demand. 2. The market share of FDA-approved products in wAMD in the U.S. is now ~56% and Eylea has a larger share of the market than Lucentis. This gives Regeneron a substantial competitive advantage in the market. Regeneron Pharmaceuticals Inc. closed Monday at $400.71.