Regeneron still outperform by RBC

RBC Capital Markets analyst Michael J. Yee reiterated Regeneron Pharmaceuticals Inc. at outperform, above average risk, on news of the company's positive phase 3 data for IL-1 Trap in CAPS rare autoimmune diseases. While the target market of CAPS diseases is less than $25 million annually, the positive data serves as an important validation of the Trap technology as a potent inhibitor and could lead to some off-label use in bigger markets in other rare autoimmune diseases, according to Yee. Shares of the Tarrytown, N.Y.-based biotechnology company were up 65 cents, or 3.35%, at $20.05. (Nasdaq: REGN)

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