Regeneron Pharms initiated with a Outperform at Oppenheimer; tgt $300
7:14 AM ET 8/22/13 | Briefing.com
. Oppenheimer initiates REGN with a Outperform and price target of $300. They expect near-term growth to continue as Eylea gains broader adoption in wet AMD and expands into a new indication, DME, in 2014. They are focused on REGN727, a PCSK9 inhibitor that could fulfill a huge unmet need in hypercholesterolemia, representing another blockbuster opportunity. Given the strength of its pipeline and an unmatched platform for antibody discovery, they view REGN as a core Biotech holding with meaningful potential for upside.
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