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.
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Posted In: Analyst ColorAnalyst RatingsBiotechnologyHealth CareInformation TechnologyPiper JaffrayRegeneron PharmaceuticalsSemiconductors
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