UPDATE: Piper Jaffray Initiates Coverage on Regeneron Pharmaceuticals as 2014 Biotech Sector Outlook Remains Strong

In a report published Wednesday, Piper Jaffray analyst Joshua E. Schimmer initiated coverage on Regeneron Pharmaceuticals (NASDAQ: REGN ) with an Overweight rating and $376.00 price target. In the report, Piper Jaffray noted, “We are initiating, resuming or assuming coverage on 16 biotechnology companies. We believe the outlook for the