Regeneron reiterated at outperform by RBC

RBC Capital Markets analyst Jason Kantor reiterated Regeneron Pharmaceuticals, Inc. at outperform, above average risk, and an increased price target of $25, from $18 based on the lucrative ex-U.S. partnership with Bayer for the VEGF-Trap in the eye. According to the analyst, this deal comes earlier than expected and is more lucrative than expected. The fact that the deal was signed before major data has been reported supports RBC's confidence in expected positive phase 2 data in the first half of 2007. Shares of the Tarrytown, N.Y.-based biotechnology company were up 90 cents, or 5.03%, at $18.78. (Nasdaq: REGN)

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