Jefferies says Regeneron’s Dupixent drug could drive shares 15% higher
Regeneron ‘s Dupixent drug may function the subsequent massive catalyst for shares of the pharmaceutical firm, in accordance with Jefferies. Analyst Akash Tewari upgraded the corporate to purchase from maintain, saying that utilizing the drug to deal with continual obstructive pulmonary illness may create a $4 billion alternative for Regeneron. He additionally upped his peak gross sales estimate to $19.2 billion for the drug. “Regardless of the macro setting, REGN’s hit two residence runs inside a brief time frame,” Tewari wrote in a Friday word to purchasers, citing promising knowledge launched Thursday and its Eylea drug used to deal with age-related macular degeneration. REGN YTD mountain Regeneron shares up to now this 12 months A examine launched Thursday indicated that Dupixent, created with Sanofi, confirmed promise as a remedy for sufferers with COPD. The situation impacts greater than 15 million adults within the U.S., in accordance with the Facilities for Illness Management and Prevention. Damaged down, the info confirmed Dupixent diminished some average or extreme acute exacerbations of COPD by 30%, in contrast with a placebo over a 52-week interval. Tewari additionally views Eylea as one other upside driver for shares as Wall Road beneficial properties extra readability on the drug. Together with the improve, Tewari lifted Jefferies’ value goal to $925 from $675 a share, reflecting 15% upside from Thursday’s shut. Shares of Regeneron have been on a tear in 2023, up 11% after gaining 14% throughout 2022’s market rout. — CNBC’s Michael Bloom contributed reporting