Piper Jaffray Impressed By New Regeneron Drugs (REGN)

Piper Jaffray analysts Chad Messer and Edward Tenthoff visited Regeneron (NADAQ:REGN) yesterday, where they were impressed by the biotech company's new product lines.

Piper Jaffray said, "Regeneron fits our thesis that well financed biotech companies with innovative drug launches over the next 2 years will re-populate large cap ranks and outperform."

Regeneron has 3 drugs with multiple data readouts in the next one and a half years: Arcalyst, Aflibercept and VEGF Trap Eye. Piper Jaffray projects a $2.6 billion enterprise value for all three drugs.

Regeneron also has a productive antibody pipeline funded by Sanofi.

Regeneron is rated Outperform by Piper Jaffray, with a price target of $35.00. REGN is currently trading at $22.32.