Regeneron (NASDAQ:REGN) shares trended greater pre-market Friday after JPMorgan upgraded the stock to Overweight from Neutral, noting a number of key catalysts in 2023, together with the upcoming launch of high-dose Eylea.

Citing the corporate’s early earnings outcomes, JPMorgan analyst Chris Schott famous that the corporate’s This autumn 2022 U.S. Eylea outcomes fell in need of expectations amid launch of Roche’s (OTCQX:RHHBY) (OTCQX:RHHBF) rival eye illness remedy Vabysmo and shutting of a copay help fund.

“….we see these concerns as short-term in nature as we expect the launch of high-dose Eylea to represent a far more important driver for REGN shares,” the analyst added, sustaining the $850 per share goal on Regeneron (REGN).

The firm shares surged in September after saying that an 8mg dose of the blockbuster remedy developed with German pharma Bayer AG (OTCPK:BAYZF) (OTCPK:BAYRY) confirmed noninferiority to the usual 2mg dose with much less frequent administration.

Additionally, Schott highlighted the corporate’s atopic dermatitis (AD) remedy Dupixent, anticipating biologic penetration within the AD market to greater than double over the following 5 years regardless of rising competitors.

JPMorgan additionally pointed to Regeneron’s (REGN) prostate most cancers candidate PSMAxCD28 arguing that regardless of small affected person numbers, the corporate has indicated “impressive anti-tumor activity” for the bispecific antibody.

“…if this profile holds up with additional patient data, we believe this product could represent a meaningful value driver for shares,” Schott wrote.

Read: Reiterating the Buy ranking on Regeneron (REGN), Seeking Alpha contributor ONeil Trader famous “clinical de-risking of high-dose Eylea” as a motive for the corporate’s improved long-term outlook.