Regeneron Pharmaceuticals Analysts React To Drug Trial Results: Why Whales Are Diving In

Regeneron Pharmaceuticals Inc REGN announced the Phase 3 trial of Dupixent (dupilumab), developed with Sanofi SNY, for uncontrolled chronic obstructive pulmonary disease (COPD) met its primary and secondary endpoints, which attracted investments from whales.

Raymond James On Regeneron Pharmaceuticals

Analyst Dane Leone upgraded the rating from Underperform to Market Perform.

The most impactful aspect data from the pivotal BOREAS study of dupilumab is that patients “experienced a ~30% reduction in moderate to severe exacerbation over 52 weeks (p=0.0005), which clears the hurdle for clinical significance based upon our doc feedback,” Leone said in the upgrade note.

“Given that the setup of BOREAS was more challenging than the study period for the confirmatory study NOTUS, we would also expect a positive result when NOTUS reports data during 2024,” he added.

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BMO Capital Markets On Regeneron Pharmaceuticals

Analyst Evan Seigerman maintained an Outperform rating, while raising the price target from $1,025 to $1,040.

There is a 90% probability of success for dupilumab in COPD, following the phase 3 readout of BOREAS and “no competition in severe COPD,” Seigerman said in a note.

“Our higher target reflects confidence in Dupilumab’s commercial COPD opportunity, adding to our already positive outlook for Regeneron on an ophthalmology franchise renewed by 8mg Aflibercept, and growing oncology franchise,” he added.

REGN Price Action: Shares of Regeneron Pharmaceuticals rose by 1.46% to $813.88 Friday morning.

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