UPDATE: Morgan Stanley Reiterates On Regeneron Pharmaceuticals Following Good Results Of Drug Study

In a report published Thursday, Morgan Stanley analyst Matthew Harrison reiterated an Equal-Weight rating on Regeneron Pharmaceuticals (NASDAQ: REGN), but removed the $310.00 price target.

In the report, Morgan Stanley noted, “Dupilumab (IL-4R antibody) achieved statistical significant reductions of atopic dermatitis (AD) in PhIIb study: Mean changes in placebo-adj EASI score (AD clearance) were 27% (100mg weekly) - 56% (300mg weekly) compared to 51% (300mg weekly) in PhIIa. Safety appeared clean with incr. in colds and headache (also observed in the asthma studies) higher than placebo as well as injection site reactions (5-9.5% vs 3%). As previously planned, PhIII will start in 2H14.”

Regeneron Pharmaceuticals closed on Wednesday at $310.93.