Company Update: Regeneron Pharmaceuticals Inc (NASDAQ:REGN) – Regeneron and Sanofi Strongly Disagree with U.S. Jury Verdict in Ongoing Patent Litigation Regarding Praluent® (alirocumab) Injection and Will Appeal

[PR Newswire] – TARRYTOWN, N.Y. and PARIS, March 16, 2016 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Sanofi today announced that the companies strongly disagree with a U.S. District Court jury verdict that the asserted claims of two Amgen patents for antibodies targeting PCSK9 (proprotein convertase subtilisin/kexin type 9) are valid. Sanofi and Regeneron believe these Amgen patent claims are invalid in the ongoing U.S. patent infringement lawsuit and plan to appeal the judgment. This decision is the first step in this ongoing litigation and does not impact Praluent® (alirocumab) Injection or our ability to deliver it to physicians and patients at this time. “It has always been and remains our position that Amgen’s asserted patent claims in this matter are invalid,” said Karen Linehan, Executive Vice President and General Counsel, Sanofi. Read more on this. Regeneron Pharmaceuticals, Inc. (REGN) , with a current value of $38.56B, started the session at $367.00. During the trading session, REGN traded between $360.00 to $381.00 with the price of the stock fluctuating between $350.26 to $605.93 over the last 52 weeks. Regeneron (REGN) shares are currently priced at 31.68x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -2.56x earnings multiple for the same period. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $2.67 per share, which would be $0.21 worse than the year-ago quarter and a $0.90 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $11.59, which would be a $0.48 setback when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.18 Billion. If realized, that would be a 35.69% increase over the year-ago quarter. More recently, Chardan Capital Markets downgraded REGN from Neutral to Sell (Mar 16, 2016). Previously, Gabelli & Co Initiated REGN at to Buy. Given all the information above, we should disclose to readers that the average price target is $507.30, which is 38.23% above than it opened this morning. See more in (NASDAQ:REGN) Similar Articles: Stock Update: Regeneron Pharmaceuticals Inc (NASDAQ:REGN) – Regeneron Announces Upcoming 2016 Investor Conference Presentation Stock Update: Regeneron Pharmaceuticals Inc (NASDAQ:REGN) – Regeneron and Sanofi Announce UnitedHealth Group Selects Praluent® (alirocumab) Injection for Preferred Access Company Update: Regeneron Pharmaceuticals Inc (NASDAQ:REGN) – Sanofi and Regeneron Announce New Praluent® (alirocumab) Injection Analyses Presented at AHA Scientific Sessions 2015