RBC rates Regeneron at outperform

Regeneron Pharmaceuticals, Inc. was maintained at outperform, above average risk, on news that the company was awarded a $17 million five-year grant from the National Institutes of Health. Under the grant, the company will knockout 3,500 difficult genes not targeted by other large-scale knockout programs. Still, according to the analyst, the near-term primary value driver for Regeneron continues to be VEGF-Trap, which appears as good as and potentially better than Avastin or Lucentis. Shares of the Tarrytown, N.Y.-based biotechnology company were up 8 cents, or 0.51%, at $15.83. (Nasdaq: REGN)

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