7. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)
% Decline Over Past One Year: ~26%
Number of Hedge Fund Holders: 68
Market Cap as on March 7: $77.3 billion
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is engaged in discovering, inventing, developing, manufacturing, and commercializing medicines for treating various diseases. Analyst John Newman from Canaccord Genuity maintained a “Buy” rating on the company’s stock, keeping the price target at $1,152.00. The analyst’s rating was backed by factors highlighting the company’s promising developments and strategic positioning. The recent data on DB-OTO, a treatment for hearing loss, demonstrated significant efficacy throughout various age groups, says the analyst. Furthermore, the analyst added that DB-OTO showcased a favorable safety profile, improving its appeal as a viable treatment option.
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) has also announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion recommending conditional marketing authorization of linvoseltamab to treat adults having relapsed and refractory (R/R) multiple myeloma (MM). Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) highlighted that there are more than 35,000 new cases of MM diagnosed in Europe and 187,000 new cases of MM diagnosed globally every year. The company’s financial and commercial strength enables it for continued investment in its industry-leading R&D pipeline.
Baron Funds, an investment management company, released its Q3 2024 investor letter. Here is what the fund said:
“We purchased Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), a biopharmaceutical company that was built on a foundation in basic scientific research and antibody development. The company has successfully developed several blockbuster medicines, including Eylea and Eylea HD for retinal diseases (such as wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy) and Dupixent for immunological and inflammatory diseases (such as atopic dermatitis, asthma, and COPD). While Eylea is nearing the end of its patent life and faces potential biosimilar competition, the company has been transitioning patients to Eylea HD, which is a higher dose, longer-acting formulation of Eylea, and Dupixent is growing rapidly through indication expansion. Beyond the current product portfolio, Regeneron has an exciting new product pipeline with over 35 candidates in various stages of development, including a novel treatment for treating severe food allergy, a combination checkpoint inhibitor therapy for melanoma, lung cancer and other solid tumors, biospecific antibodies for blood cancers, and Factor XI antibodies for blood clot prevention, among others. Based on Regeneron’s track record of success discovering and developing new drugs, we are optimistic the pipeline will deliver some successes, which we think will drive upside in the stock.”
