Regeneron: Jefferies upgrades stock

(CercleFinance.com) - Jefferies has upgraded its rating on the Regeneron share from "hold" to "buy," while raising its target price from 355 dollars to 492 dollars, considering the recent bad news regarding Novartis' Beovu that will "likely dampen its uptake".


"We spoke to two retina docs who expect Beovu use to significantly decrease in the near term," the broker says, for which the competitive risk for Regeneron's Eylea franchise could be minimised.

Judging that the consensus for Eylea appears "conservative" in 2020-22, offering upside potential, Jefferies has raised its estimates for this franchise, which are now above the consensus of 180 million dollars for 2020 and 450 million dollars for 2021 and 2022.


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