Why Regeneron Stock Is Trading Lower Today

Regeneron Pharmaceuticals, Inc. REGN shares continue to fall Wednesday after news Tuesday that the FDA issued a Complete Response Letter (CRL) for aflibercept 8 mg Biologics License application due to an ongoing review of inspection findings at a third-party filler. Several analysts also lowered their price targets on the stock.

What To Know: The issuance of the CRL effectively denied the company approval of a higher-dose version of EYLEA.

• Canaccord Genuity analyst John Newman downgraded Regeneron Pharmaceuticals from Buy to Hold and lowered the price target from $953 to $720.
• Barclays analyst Carter Gould maintained Regeneron Pharmaceuticals with a Overweight and lowered the price target from $915 to $888.
• RBC Capital analyst Brian Abrahams maintained Regeneron Pharmaceuticals with a Sector Perform and lowered the price target from $816 to $789.
• Baird analyst Brian Skorney maintained Regeneron Pharmaceuticals with a Neutral and lowered the price target from $800 to $760.
• Truist Securities analyst Robyn Karnauskas maintained Regeneron Pharmaceuticals with a Buy and lowered the price target from $1050 to $1045.

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REGN Price Action: Shares of REGN were down 2.38% at $699.04 at the time of publication, according to Benzinga Pro.

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