Analysts Are Downgrading These 5 Stocks

03. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Number of Hedge Fund Holders: 54

On June 28, following the issuance of a Complete Response Letter by the FDA for the higher dosage of Eylea, a treatment for age-related macular degeneration, Canaccord downgraded Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) from a buy rating to a hold rating. This downgrade comes as a result of the unexpected requirement for a longer review process indicated in the letter. Canaccord’s decision reflects a revision in their assessment of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) investment potential in light of the regulatory setback and the extended timeline for the higher dosage of Eylea.