2) Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)
52-week Low: $666.2
Price as of 24 January: $675.79
Number of Hedge Fund Holders: 62
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases. The company’s stock was negatively impacted by the challenging environment related to its flagship EYLEA franchise. The potential entry of Amgen’s Pavblu poses a threat to EYLEA’s market dominance. However, in response to such challenges, Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) continues to actively transition patients to its high-dose formulation, EYLEA HD. This strategy focuses on maintaining market share and mitigating the impact of biosimilar competition.
Bernstein analysts maintained their “Outperform” rating on the company’s shares, giving a price target of $1,070.00. The analysts have received confirmation of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)’s strategic emphasis on advancing its pipeline. As per the analysts, the management’s intention to shift the focus to pipeline development can be seen as a positive step. The company’s efforts to emphasize its pipeline are targeted at ensuring long-term growth and catering to unmet medical needs across different therapeutic areas. Elsewhere, Truist Securities maintained a “Buy” rating with a $1,004.00 price target.
As per Truist Securities, the momentum of Dupixent, which is another of the company’s products, is expected to continue. Notably, the drug is poised for potential expansion into new indications, which include chronic obstructive pulmonary disease (COPD). 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.”
