Canaccord Genuity has adjusted its outlook on Regeneron Pharmaceuticals (REGN), bringing the price target down to $850 from a previous estimate of $1,152. Despite this revision, the firm maintains a Buy rating for the stock.
The adjustment comes as Regeneron faces increased market competition. Amgen's (AMGN, Financial) biosimilar products are eating into the 2mg dosage segment's market share, posing a significant challenge. Additionally, Roche's (RHHBY) Vabysmo continues to be a strong competitor, further impacting Regeneron's market position.
These market dynamics have led Canaccord to reevaluate their expectations for Regeneron's performance in this competitive landscape. Investors are advised to consider these factors when making decisions regarding the stock.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 25 analysts, the average target price for Amgen Inc (AMGN, Financial) is $322.04 with a high estimate of $400.00 and a low estimate of $185.00. The average target implies an upside of 17.67% from the current price of $273.68. More detailed estimate data can be found on the Amgen Inc (AMGN) Forecast page.
Based on the consensus recommendation from 33 brokerage firms, Amgen Inc's (AMGN, Financial) average brokerage recommendation is currently 2.5, 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 Amgen Inc (AMGN, Financial) in one year is $347.00, suggesting a upside of 26.79% from the current price of $273.68. 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 Amgen Inc (AMGN) Summary page.
