Wolfe Research analyst Alexandria Hammond lowered the firm's price target on Regeneron to $860 from $900 and keeps an Outperform rating on the shares. The company's LAG-3 trial missed its primary endpoint, and while the opdualag head-to-head trial may presented a path forward through the FDA, the firm is less optimistic, the analyst tells investors in a research note. Commercial execution will be important for Regeneron going forward, while 2H26 catalysts may be underappreciated, the firm adds.
