Oppenheimer has reaffirmed its Outperform rating on Regeneron Pharmaceuticals (REGN, Financial) with a price target of $925. This comes after the U.S. Food and Drug Administration (FDA) rejected Regeneron's proposal to extend the dosing interval in the labeling of Eylea HD, a treatment developed by the company. The extension was intended to enhance the drug's market performance.
Although Regeneron viewed this proposal as a potential boost for Eylea HD, Oppenheimer was not entirely surprised by the FDA's complete response letter. The firm noted that the evidence supporting the proposal largely originated from the Pulsar study's open label extension, which may not have been compelling enough for approval.
There is now a concern that the FDA might also reject Regeneron's plan to include a four-week rescue dosing option in the Eylea HD label. Such a decision could have a more significant impact on the stock's performance. Nonetheless, Oppenheimer believes that the potential risk is already reflected in Regeneron's current share price, given recent market trends.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 25 analysts, the average target price for Regeneron Pharmaceuticals Inc (REGN, Financial) is $907.96 with a high estimate of $1,152.00 and a low estimate of $547.00. The average target implies an upside of 62.55% from the current price of $558.56. More detailed estimate data can be found on the Regeneron Pharmaceuticals Inc (REGN) Forecast page.
Based on the consensus recommendation from 28 brokerage firms, Regeneron Pharmaceuticals Inc's (REGN, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Regeneron Pharmaceuticals Inc (REGN, Financial) in one year is $905.96, suggesting a upside of 62.2% from the current price of $558.56. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Regeneron Pharmaceuticals Inc (REGN) Summary page.
