The Street gets bullish on Regeneron following Eylea DME data

|About: Regeneron Pharmaceuticals, ... (REGN)|By:, SA News Editor

Regeneron (REGN +2.7%) enjoys some bullish commentary out of the sell-side following the presentation of Phase 3 Eylea data in DME at the Retina Society's annual meeting. (full presentation)

"The data clearly supports label expansion with blockbuster potential even competing with approved Lucentis (RHHBY.OB, NVS) and off-label Avastin," Piper's Edward Tenthoff says, before going on record with predictions of $56M and $177M in sales in H2 2014 and FY15 for the new indication, respectively. Price target raised to $360 from $336.

Goldman is out with similar comments, saying the VIVID/VISTA data "were in line with ... expectations and [should] support approval for a broader label and drive uptake/growth.” Price target raised to $355 from $329.

Also: Oppenheimer's David Ferreiro lifts his target to $310 from $300.