Regeneron Pharmaceuticals Inc (REGN) is expected to see continued growth with its ocular drug EYLEA due to the company’s Bayer AG (FRA:BAYN) partnership, in addition to future opportunities REGN holds with its rich antibody pipeline, says Ted Tenthoff, Managing Director and Senior Research Analyst at Piper Jaffray & Co.
“Look at Regeneron now and a lot of that growth, it certainly commands a premium valuation because of what we’ve been discussing, but a lot of that growth has been from an ocular drug, an eye drug called EYLEA, which is approved for age-related macular degeneration and other indications and is in Phase III studies for diabetic macular edema. So we see opportunities for that drug to continue to grow, especially overseas where they’re partnered with Bayer, which contributes a very high-margin revenue stream,” Tenthoff said.
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Tenthoff also points to REGN‘s significant antibody pipeline as an area of future growth and opportunity. With the stock rising from his initial purchase of $19 a share to upwards of $250-plus a share, Tenthoff is confident REGN will continue to deliver.
“Why I also like Regeneron is they have one of the richest antibody pipelines in all of biotechnology, and it’s — they have the opportunity to create multiple blockbuster antibodies over the next 10 to 20 years. So it’s trading at a big premium. It’s had a big move,” Tenthoff said. “It’s a premium company that I think will continue to do well.”
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