Health and Healthcare
Have Analysts Fully Priced in Praluent to Regeneron?
Published:
Last Updated:
Those involved with the study believe that Praluent represents the culmination of more than a decade of tireless work to translate the genetic-based discovery of PCSK9 into an innovative medicine that brings meaningful value to patients.
Christopher Cannon, M.D., Professor of Medicine at Harvard Medical School, Cardiovascular Division at Brigham and Women’s Hospital, commented on the approval:
In the ODYSSEY clinical trial program, two doses of alirocumab showed significant LDL cholesterol lowering in a variety of patients who were not able to adequately lower their LDL cholesterol with current standard of care alone. The majority of patients achieved their LDL-lowering goals with the 75 mg dose, when added to maximally tolerated dose of a statin, with a generally acceptable safety profile.
However despite this good news, the reaction in Friday’s trading session was not as expected. Shares of Regeneron actually dropped 2.7% to close at $541.85.
After the news broke last Friday, Regeneron shares had a consensus analyst price target of $525.83, which implies a downside of 2.4% from current prices. The highest price target comes from Deutsche Bank just a couple weeks ahead of the announcement and it is $650, implying an upside of 20.6%.
It appears that even after this release most analysts already accounted for the news and had already priced it into their targets.
Shares of Regeneron were down 0.6% at $538.80 on Monday. The stock has a 52-week trading range of $299.73 to $569.91.
Sanofi shares were relatively flat at $53.55 on a 52-week trading range of $43.57 to $57.42. The stock has a consensus analyst price target of $56.60.
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.