Regeneron: Jefferies initiates coverage as a seller
(CercleFinance.com) - Jefferies has initiated its coverage of the Regeneron stock with an Underperform rating and a target price of 536 dollars, believing that the competitive environment will make it difficult for the biotech group to outperform going forward.
While it acknowledges that " REGN has been one of the best names to own in Biotech over the last 20 years", the broker points to intellectual property and competitive issues with Eylea that could weigh on its results from 2024.
Jefferies also mentions an "unclear" opportunity for Dupixent in COPD (chronic obstructive pulmonary disease) and a "historically superb pipeline that looks mixed at the moment".
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.