Zacks Investment Research upgraded shares of Regeneron Pharmaceuticals, Inc. (REGN) from NEUTRAL to OUTPERFORM on July 20, 2012, with a target price of $145.00.
We are upgrading Regeneron Pharmaceuticals to Outperform from Neutral ahead of its second quarter earnings results slated for July 25. Regeneron, which turned to profit in the first quarter of 2012, should continue performing well throughout 2012 driven by excellent growth prospects of Eylea. We have increased our 2012 earnings estimates by $0.17 to $1.07 per share. Moreover, with three action dates and multiple pipeline related news lined up, the remainder of 2012 promises to be exciting for Regeneron with scope for significant stock price appreciation. Consequently, we believe that the current price represents an attractive entry point for long-term investors.
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