TD Cowen Lifts PT on Regeneron Pharmaceuticals (REGN) Ahead of Fiscal Q1 Results

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is one of the best stem cell therapy stocks to buy. TD Cowen lifted the price target on Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) to $960 from $880 on April 23, reaffirming a Buy rating on the shares. The firm updated its model ahead of the fiscal Q1 results, and slightly decreased Eylea and Libtayo estimates and increased Dupi estimate, while bringing the non-GAAP EPS estimate for fiscal Q1 up to $9.30.

The rating update came the same day Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) announced that the U.S. Food and Drug Administration (FDA) granted accelerated approval for Otarmeni™, which is the first gene therapy and second new molecular entity approved under the FDA Commissioner’s National Priority Voucher program.

Management reported that Otarmeni is an “adeno-associated virus vector-based gene therapy indicated for the treatment of pediatric and adult patients with severe-to-profound and profound sensorineural hearing loss associated with molecularly confirmed biallelic variants in the OTOF gene, preserved outer hair cell function, and no prior cochlear implant in the same ear”. Formerly known as DB-OTO, Otarmeni is the first and only in vivo gene therapy for OTOF-related hearing loss, and will be made available by Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) for free in the United States.

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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