BMO Capital analyst Matthew Luchini raised his price target on Regeneron to $388 after its Q2 results showing ‘in-line’ Eylea sales, a beat from Dupixent, and better than expected earnings coming from lower expenses and taxes. The analyst also attributes the recent improved investor sentiment to a potential weekly SubQ C5 inhibitor, which is expected to start a Phase II trial in 2019. Longer term, the analyst keeps his Market Perform rating on Regeneron given the “concerns about VEGF competitors and key pipeline opportunity uncertainty”.
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