12:15 PM EDT, 05/02/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our target to $1,060 from $1,075, 21.2x our 2025 EPS estimate, slightly below REGN's 10-year historical forward P/E average. We cut our 2024 EPS view to $45.03 from $45.50 and maintain our 2025 estimate at $50.05. Regeneron reported Q1 EPS of $9.55 vs. $10.09, below the S&P Capital IQ consensus estimate of $10.10. The miss was driven by slightly lower-than-expected top-line revenue and a higher-than-anticipated increase in R&D expenses (+13% Y/Y). Q1 revenue of $3.1B, down 1% Y/Y, slightly missed expectations, $54M below our forecast and $73M below consensus. The decline in Eylea U.S. sales (-16% Y/Y, $1.2B) was slightly higher than anticipated this quarter, but this was counterbalanced by the solid performance of the newly launched higher dose, Eylea HD, which recorded $200M in its second full-quarter U.S. sales and 63% growth sequentially. The company announced a new $1.2B share buyback program, recently authorized by the board, which should strengthen REGN's share price this year, in our view.