Truist Securities has revised its target price for Regeneron Pharmaceuticals (REGN, Financial), reducing it from $1,004 to $975, while maintaining a Buy rating on the shares. This adjustment comes as the company faces a series of challenges, primarily linked to its flagship product Eylea, and increased competition in the market.
Regeneron's shares have experienced a downturn over recent quarters, largely influenced by Eylea-related developments and intensified pricing competition. According to Truist, these factors have overshadowed appreciation for the company's pipeline. Insights from discussions with key opinion leaders and the company's explanations regarding first-quarter stocking dynamics and changes in insurance coverage have prompted Truist to adjust its financial model, acknowledging these short-term hurdles.
While the lowered price target indicates caution, the continued Buy rating suggests that Truist maintains a positive outlook on Regeneron's long-term prospects. The firm likely sees potential for growth beyond the current market conditions affecting Regeneron.
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 $892.36 with a high estimate of $1,100.00 and a low estimate of $547.00. The average target implies an upside of 52.41% from the current price of $585.49. 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 54.74% from the current price of $585.49. 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.
