UPDATE: Morgan Stanley Reiterates On Regeneron Pharmaceuticals Inc Following DME Doc Event

In a report published Thursday, Morgan Stanley analyst Matthew Harrison reiterated an Equal-Weight rating on

, but removed the $310.00 price target. In the report, Morgan Stanley noted, “We hosted two retina specialists to discuss trends in DME treatment: One physician represented a large multicenter suburban practice (~10% DME pts) while the other operated a single center urban practice (~50% DME pts). Both physicians completed ~100 intravitreal injections/mo, accepted most insurances (incl. Medicare / Medicaid) and had similar patient volumes. Laser represented ~10% of volumes and the physicians indicated it was unlikely to move lower. Steroids make up a small portion of the remaining 90% of volume with anti-VEGF the sig. majority of all drugs used in DME.” Regeneron Pharmaceuticals Inc closed on Wednesday at $359.10.