Slightly Lowering Regeneron FVE on Higher Operating Costs, Despite Pipeline Progress
We’ve slightly lowered our Regeneron fair value estimate to $347 per share following fourth-quarter results, as we’ve factored in higher operating costs as the firm supports Dupixent and Praluent launches, but also include more midstage pipeline programs in our revenue projections. Global Eylea sales continued to grow at a double-digit rate and reached $5.9 billion in 2017, slightly higher than our projections. However, management no longer provides guidance for Eylea sales growth, and given pri...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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