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What: Shares of Regeneron Pharmaceuticals
So what: Shares have been on a tear since early August, but analysts at Leerink Swann think they've run too far, downgrading the stock based on valuation and the uncertainty of the Eylea launch. The age-related macular degeneration treatment is expecting an approval decision in November from the FDA.
Now what: As companies await FDA approvals, their stocks can go through wild price swings, and even analysts don't have an idea where shares should trade. Leerink Swann analyst Joshua Schimmer said, "It's not clear to us what the 'right' price point for Eylea may be." That's the kind of uncertainty I'm going to avoid in this market.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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