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NVSEF - Regeneron: Cancer COVID And More Could Be Breaking Its Way
Novartis Ag Basel Akt
Background
Regeneron (REGN) more than doubled from its depressed $272 early-October lows, initially because of risk-on sentiment returning to the market (SPY). The surge above $400 - which was my rough estimate of fair value as of Q4 last year - in Q1 was likely almost all due to its participation in the rush to deal with the COVID-19 pandemic.
As I will show next, REGN is suddenly trading as a glamour stock, not the value stock it has frequently been the prior few years.