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Analyst Brian Abrahams reiterated an Outperform rating and a price target of $943 for Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) on May 29. The rating comes as Regeneron awaits the findings of a phase III study on the medication candidate itepekimab, which is intended to treat chronic obstructive pulmonary disease (COPD).
Based on a thorough analysis of preclinical and clinical data for COPD biologics, Abrahams expressed hope over itepekimab's potential to reduce episodes of COPD drastically. He estimates an unadjusted global peak revenue of $6 billion and believes that favorable study results could open up a sizable market opportunity.
According to the analyst, there is a 65% possibility that Regeneron's stock would rise by 5–15% as a result of the upcoming itepekimab data. Additionally, he asserts that positive results from the itepekimab trials and other pipeline outcomes would divert investors' attention from worries about the depletion of Regeneron's other medicine, Eylea.
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