RBC begins coverage of Regeneron with outperform rating

RBC Capital Markets analyst Michael J. Yee began coverage of Regeneron Pharmaceuticals, Inc. with an outperform rating, above average risk. The company's primary value driver, the VEGF Trap, has low clinical risk and a high likelihood of future commercialization in billion-dollar market opportunities in oncology and age-related macular degeneration, according to the analyst. Shares of the Tarrytown, N.Y.-based biotechnology company were up 87 cents, or 6.87%, at $13.53 on volume of 897,357 shares versus the three-month running average of 365,692 shares. (Nasdaq: REGN)

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