UBS analysts mentioned in a observe Thursday that Regeneron’s (NASDAQ:) mental property win is a optimistic for the corporate and removes an overhang.
REGN shares have continued the earlier session’s virtually 3% rally on Thursday, climbing over 1%.
The share worth rise comes following a court docket ruling on Wednesday that discovered Viatris Inc (NASDAQ:)’s reproduction of Eylea, Regeneron’s eye drug, infringed on the corporate’s patent rights.
“It is a vital optimistic for REGN, eradicating an overhang, probably pushing biosim entry timelines meaningfully and thus permitting REGN to transform extra sufferers to Eylea HD,” analysts at UBS, who’ve a Purchase ranking and $966 worth goal on the inventory, mentioned.
“With this replace, Dupi development nonetheless underappreciated by the road, a robust stability sheet and the rising weight problems story (we anticipate updates on the promote aspect conf in Jan), REGN is one in every of greatest massive cap biotech tales heading into ’24, in our view,” they added.
