Piper Jaffray analyst Christopher Raymond kept his Overweight rating and $475 price target on Regeneron (REGN), saying that today’s verdict upholding the validity of two Amgen (AMGN) patents should not matter much because U.S. Praluent represents just $12 per share in its valuation. The analyst adds that Regeneron still has “several procedural steps to execute in the coming months aiming to change the verdict or request another new trial”, and that today’s decision marks the second time that a jury ruled in Amgen’s favor.
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