Regeneron draws upgrades after data for high dose Eylea
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Morgan Stanley and Jefferies upgraded Regeneron (NASDAQ:REGN) after the company reported that its best-selling eye medication, Eylea, at a higher dose, achieved noninferiority to the standard regimen in two pivotal trials.

Morgan Stanley analyst Matthew Harrison opines that the data removes a key overhang related to Eylea tail risk and predicts high dose regimen could become the âagent of choice for front line patients.â

In addition, the firm projects that REGNâs allergic disease drug Dupixent could achieve more than $20B in peak sales ahead of the consensus and notes that the advancements of the companyâs âoncology pipeline can now provide the next leg of growth.â
The analyst cites significant optionality with REGNâs sizable cash position as he upgrades the stock to Overweight from Equal Weight and raises the price target to $851 from $625 per share.
Arguing that overall data for high dose Eylea exceeded its expectations as well as Buy-side projections for the 16-week dosing regimen, Jefferies upgraded REGN to Hold from Underperform and increased the price target to $675 from $536 per share.
Meanwhile, Barclays raised the REGN price target to $815 from $735 per share in reaction to the latest Eylea data, which added more than ~19% to the companyâs valuation on Thursday.
Read: REGN and partner Sanofi (SNY) (OTCPK:SNYNF) announced two-year data for Dupixent in children aged six to 11 years with asthma.