Canaccord Cuts PT on Regeneron Pharmaceuticals (REGN), Cites a Disappointing Event

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is one of the best medical stocks to invest in according to billionaires. Canaccord cut the price target on Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) to $875 from $1,057 on May 19, maintaining a Buy rating on the shares. The firm updated its model on the stock after its Phase 3 study of fianlimab+cemiplimab vs pembrolizumab failed to hit statistical significance on the primary endpoint of progression-free survival (PFS), which it considered a surprising and disappointing event.

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) also received a rating update from Wolfe Research on May 18. The firm cut the price target on the stock to $860 from $900 and reiterated an Outperform rating on the shares. The firm told investors in a research note that the company’s LAG-3 trial missed its primary endpoint, adding that although the opdualag head-to-head trial may have presented a path forward through the FDA, the firm is less optimistic. It further stated that commercial execution will be significant for Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) going forward, while H2 2026 catalysts may be underappreciated.

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.

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