BMO Capital Maintains a Buy on Regeneron Pharmaceuticals (REGN), Sets a $640 PT

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is one of the best cheap stocks to buy for beginners. In a report released on September 8, Evan Seigerman from BMO Capital maintained a Buy rating on Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), setting a price target of $640.00.

The analyst cited various factors supporting the optimistic outlook, including the promising results from its recent Phase 3 trials for the cat and birch allergy antibody cocktails.

The data showed considerable symptom reductions, such as skin prick reactivity, ocular itch, and conjunctival redness. Patients with cat allergies driven by the FelD1 allergen exhibited especially strong results.

According to Seigerman, these results suggest robust clinical efficacy with the potential to address a considerable unmet need in allergy treatment.

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is a pharmaceutical company that develops, discovers, and commercializes therapies for several diseases, including cancer, eye disorders, and allergic conditions.

It has relied on two primary products to drive top-line growth in the past years: Dupixent and Eylea. Dupixent is an eczema treatment whose rights Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) shares with Sanofi. Eylea, which Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) comarkets with Bayer, treats wet age-related macular degeneration.

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Disclosure: None. This article is originally published at Insider Monkey.