Piper Jaffray Reiterates Overweight Rating On Regeneron

According to Piper Jaffray, Regeneron Pharmaceuticals REGN Overweight rating is reiterated. Piper Jaffray said that on Friday, an FDA Advisory Committee voted unanimously 10-to-0 recommending approval of EYLEA (VEGF Trap-Eye) in Age-related Macular Degeneration (AMD). “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 upside to our price target on Eylea approval.” Regeneron Pharmaceuticals closed on Friday at $54.02.