RBC ups Regeneron to outperform; cites Eylea patent win, Dupi sales

Bet_Noire RBC Capital Markets has upgraded Regeneron Pharmaceuticals ( NASDAQ: REGN ) to outperform, citing the company’s R&D pipeline, “strong” Dupi performance and “solid” Eylea HD start. The investment bank said its sees Dupi beating consensus estimates in 2024, “which may help drive additional enthusiasm and share upside.” It added that the company’s recent patent win should provide additional runway to convert patients from Eylea to Eylea HD.

“We see REGN considerably benefitting from the longer time to effect market conversion from their recent IP win,” RBC added. RBC also sees “near term showcasing” of Regeneron’s oncology programs, with Phase 2/3 data for fianlimab seen now in 2H 2024. RBC raised its price target for the stock to $1,076 from $884.

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Eylea sales in Q4.