Regeneron Pharma (NASDAQ:REGN) Gets Positive Phase III Data for VEGF-TRAP

Regeneron Pharma (NASDAQ:REGN) received positive phase III data for VEGF-TRAP in CRVO and updated phase II data in DME, generating a positive reaction from Barclays (NYSE:BCS).

They said, "We are maintaining our OW rating on REGN following release of positive phase III data for VEGF-TRAP in CRVO and updated phase II data in DME. Data support a best-in-class profile demonstrated previously in the VIEW studies for AMD and should ensure dominant positioning in the anti-VEGF retinal disease space."

Barclays maintains an "Overweight" on Regeneron Pharma, which closed Tuesday at $33.65. Barclays has a price target on them of $48.