Regeneron gets 2nd upgrade in two days as Jefferies moves to Buy

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Jefferies analysts raised their recommendation on Regeneron (NASDAQ:REGN) to Buy from Hold and hiked the price target by $250 to $925 per share after the company “hit two home runs within a short period of time.”

Regeneron shares soared yesterday after the company said its asthma and lung disorder injection Dupixent met primary and secondary targets in a late-stage study.

The Phase 3 data showed a 30% reduction in exacerbations and improved lung capacity for patients with chronic obstructive pulmonary disease (COPD).

TD Cowen analysts project peak Dupixent sales at $20 billion. As a result, shares closed 6.8% higher yesterday, also boosted by Raymond James’ upgrade of the stock.

“We think COPD could be a ~$4Bn opportunity for Dupiā€”upping our total Dupi WW peak sales estimate to ~$19.2Bn,” the analysts wrote in their upgrade note.

On the next key catalysts to watch, they highlighted the HD Eylea switch as well as more clarity on Eylea’s IP case that is expected mid-this year.

Regeneron shares are down over 1% in pre-market Friday.