Regeneron Pharmaceuticals' (REGN) itepekimab will "more than likely" show statistically significant reductions in chronic obstructive pulmonary disease exacerbations, opening a "large" market opportunity, RBC Capital Markets said in a Wednesday note.
RBC analysts said they believe there is ample supporting evidence that the company's investigational antibody will demonstrate clear activity in former smokers with the disease. They acknowledged some risks to the phase 3 results, but they said these will be "more than offset" by the likely benefits.
The analysts said they see a "net favorable setup" given the company's "considerable" sales opportunity and current stock valuation. Given the large number of patients with uncontrolled exacerbation on triple therapies, they said they estimate the total market among former smokers eligible for biologics to be around $16 billion in the US alone.
RBC maintained the company's stock rating at outperform with a $943 price target.
Shares were up 1% in recent trading.
Price: 597.72, Change: +5.87, Percent Change: +0.99
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。