This IBD Stock Of The Day Plans To Test A Coronavirus Drug This Summer Regeneron Pharmaceutical REGN $ 491.69 $50.8611.54%232% IBD Stock Analysis Stock has been volatile with downturn but mostly sidestepped losses Relative Strength Rating now at 97 out of 99; RS line pointing north Shares climbed out of buy zone Feb. 24 and have remained above it Composite Rating 99/99 Industry Group Ranking 4/197 Emerging Pattern High RS * Not real-time data. All data shown was captured at 3:14PM EDT on 03/17/2020. Regeneron Pharmaceutical (REGN) is theIBD Stock Of The Day after REGN stock rocketed on a speedier-than-expected timeline for its coronavirus treatment. which were well below the clothes out of the previous day right The biotech company has two shots at tackling Covid-19, a new form of coronavirus that took hold late last year beginning in China. On Monday, Regeneron announced it will test Kevzara, a rheumatoid arthritis drug, as a treatment for extremely sick Covid-19 patients. Further, Regeneron announced plans Tuesday to begin large-scale manufacturing in April of an antibody "cocktail" that could prevent or treat Covid-19. The biotech company plans to begin clinical studies in humans of that potential coronavirus treatment by early summer. SVB Leerink analyst Geoffrey Porges kept his outperform rating on REGN stock following the announcement Tuesday. But he doesn't currently ascribe any value to the company's efforts in creating a coronavirus treatment or preventive drug. "Regeneron is arguably the most efficient antibody developer in the biopharma industry and should deserve a higher valuation for its strong innovation capability," Porges said in a report to clients. REGN Stock Outperforms Peers In afternoon trading on the stock market today, REGN stock popped 11.5% to close at 491.69. As of Tuesday's close, REGN stock is up 10.6% for the month, in sharp contrast to the 21.3% dive for the broader industry group of biotech companies. The stock is well extended from a pullback near the 10-week moving average in February. The collective tumble comes amid a correction related to coronavirus worries. Across the globe, there have been nearly 191,000 cases, according to Johns Hopkins. That includes more than 7,500 deaths and nearly 81,000people who have recovered. Regeneron is among the biotech companies aiming to treat or prevent Covid-19. Notable names in this space include Gilead Sciences (GILD) and Moderna (MRNA). On Monday, Regeneron and partner Sanofi (SNY) said they would test rheumatoid arthritis drug Kevzara in seriously ill patients with Covid-19. SVB Leerink's Porges says the drug could offer "a quick remedy for Covid-19," a respiratory illness that leads to pneumonia. The study will enroll about 400 patients suffering multi-organ dysfunction who also have pneumonia or fever. The Phase 2 portion of the study could last about two months before beginning a Phase 3 test. Results could be available by the end of May, Porges said. Coronavirus Treatment In The Works Tuesday's movement for REGN stock was related to an earlier-than-expected ramp up for a drug "cocktail" comprised of antibodies to treat or prevent coronavirus. The biotech company says it has isolated hundreds of virus-neutralizing antibodies from mice, as well as antibodies from humans who have recovered from Covid-19. From this pool, Regeneron will select the top two antibodies it believes can target Covid-19. "Regeneron previously used these technologies to rapidly develop a successful treatment for Ebola virus infection, which is currently under review by the U.S. Food and Drug Administration," the biotech company said in a news release. The process of identifying the antibodies occurred in just six weeks, Porges said. Now, the biotech company is planning to begin clinical studies in early summer. That's three months ahead of expectations, he said. "We believe Regeneron's Covid-19 antibody cocktail may offer efficacy (effectiveness) in preventing and treating the virus," he said. "While there are numerous Covid-19 programs ongoing, only a few are in the development of antibody cocktails." REGN Stock Tied With Vertex Shares of REGN stock are tied with Vertex Pharmaceuticals (VRTX) in the group of nearly 600 biotech companies tracked by Investor's Business Daily. Both have perfect Composite Ratings of 99, putting their key growth metrics in the leading 1% of all stocks. In addition, REGN stock has a bullish Relative Strength Rating of 97. The RS Rating is a 1-99 measure of a stock's 12-month performance. This puts REGN stock in the top 3% of all stocks on that measurement. Representatives of Regeneron had no comment. Follow Allison Gatlin on Twitter at@IBD_AGatlin. https://www.investors.com/research/...ock-jumps-speedy-coronavirus-treatment-plans/