JP Morgan analysts see an “attractive setup” for Regeneron Pharmaceuticals Inc (NASDAQ:REGN) shares, believing the company’s Dupixent and Eylea drugs and cash on hand alone support valuation at current levels.
In a note to clients on Friday, the analysts wrote that they expect several catalysts for the company over the next three to six months, including Phase 3 trial results for LAG3 melanoma treatment as well as several potential Eylea updates.
JP Morgan has an ‘Overweight’ rating on the stock with a year-end target price of $800 per share.
The analysts see the company’s 8 milligram (mg) Eylea uptake likely accelerating with a number of expected label enhancements improving the product’s profile.
In addition, they view Dupixent as being positioned for further upside to estimates with strong growth for core indications, such as atopic dermatitis and asthma, and new launches, with the most notable being treatment for chronic obstructive pulmonary disease (COPD).
The analysts also believe a number of Regeneron’s assets remain underappreciated, particularly the company’s LAG3.
They forecast third quarter 2025 sales for Regeneron of $3.6 billion, which is slightly above Wall Street estimates, along with earnings per share of $9.25, based on another solid quarter for Dupixent.
Regeneron Pharmaceuticals shares rose more than 1% to $606.50 in early Friday trading.