Piper Jaffray Reiterates Overweight Rating On Regeneron Pharmaceuticals

According to Piper Jaffray, Regeneron Pharmaceuticals REGN Overweight rating is reiterated. Piper Jaffray said that it remains buyers of REGN shares this week into likely approval of EYLEA in wet Age-related Macular Degeneration (AMD) by Saturday's August 20th PDUFA date. “We reiterate our Overweight rating and $62 target based on a proj. enterprise value of $5.26 billion. We add mid-12E cash of $311 million. Regeneron has no debt. We see potential upside to our price target on Eylea approval.” Regeneron Pharmaceuticals closed on Friday at $54.18.