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Regeneron Pharmaceuticals Inc (NASDAQ:REGN) won a lawsuit last month against Viatris Inc (NASDAQ:VTRS) over its Eylea patent.
While the performance of the company’s Dupixent treatment is likely to be strong in the near term, chronic obstructive pulmonary disease (COPD) is likely to offer “a meaningful medium-term inflection,” according to BMO Capital Markets.
The Regeneron Pharmaceuticals Analyst: Brian Abrahams upgraded the rating for Regeneron Pharmaceuticals from Sector Perform to Outperform, while raising the price target from $884 to $1,076.
The Regeneron Pharmaceuticals Thesis: A proprietary analysis of prescription trends and run-rate suggests Dupixent sales of $14.0 billion in 2024, ahead of the consensus estimate of $13.4 billion, Abrahams said in the upgrade note.
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“And our physician feedback has indicated high receptivity and a large unmet need in COPD, enabling ~$4B in peak COPD sales to further propel REGN's leading franchise,” the analyst wrote.
While Eylea HD sales are “off to solid start,” the recent patent win provides “additional runway to convert the market,” Abrahams stated.
“With linvo looking good and more definitive timelines around fianlimab, we see near-term showcasing of REGN's highest-opportunity oncology programs,” he added.
REGN Price Action: Shares of Regeneron Pharmaceuticals had risen by 1.50% to $929.68 at the time of publication Friday.
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