In a note issued Friday, Piper Jaffray said the weakness in Regeneron (NASDAQ:REGN) is a buying opportunity, as the firm sees risks to the company’s alirocumab Phase III program as overblown, with neither Regeneron  (NASDAQ:REGN) or its development partner Sanofi (SNY) having seen any neurocognitive adverse events with the drug. The firm reiterates a Buy rating and $376 price target on shares.

Deutsche Bank reports Regeneron  (NASDAQ:REGN) said it has not not seen any neurocognitive signals like those warned about by the FDA so far in its phase 3 program for Alirocumab, nor has the data safety monitoring board for the trials. Deutsche adds that the FDA had previously been concerned with neurocognitive effects of statins, though some new studies have not found any link between memory loss and statin use. Deutsche Bank has a Buy rating and $410 price target on Regeneron  (NASDAQ:REGN).

Ambarella (NASDAQ:AMBA) is down in the after hours session after the company said its Q4 results topped expectations and provided revenue guidance for Q1 in line with analysts’ estimates. Shares are down 4.55% at $32.48, with a 52-week range of $10.62 – $36.49. The developer of semiconductor processing solutions posted Q4 GAAP earnings of $0.18 per share, compared with the prior-year period’s $0.13 per share. Non-GAAP EPS was $0.26, up from $0.18 EPS in the same quarter a year ago. This compares to the Capital IQ consensus estimate of $0.19 EPS. Ambarella (NASDAQ:AMBA) revenue was $40 million, up 26.8% from $31.5 million in the same quarter last year. Analysts were expecting revenues of $38.13 million. Ambarella (NASDAQ:AMBA) sees Q1 revenue of $39 million – $41 million, in line with the Capital IQ consensus estimate of $39.88 million.

Progress Software (NASDAQ:PRGS) is tumbling lower in the after hours session after the company said it its lowering its earnings and revenue guidance for Q1, or the quarter ending Feb. 28, 2014, based on preliminary financial data. Shares are down 13.32% at $22, with a 52-week range of $20.41 – $26.95. The global software company said it now sees non-GAAP diluted earnings per share of $0.27 – $0.28, down from the previous guidance range of $0.29 – $0.31. (NASDAQ:PRGS) revised its GAAP EPS outlook to $0.21 – $0.22, versus the prior outlook of $0.19 – $0.21 EPS. Analysts polled by Capital IQ are expecting non-GAAP EPS of $0.31 and GAAP EPS of $0.23. PRGS now sees revenue of $74 million – $75 million, down from the previous guidance range of $80 million – $82 million. The Street view is for revenue of $81.34 million. The company said it cut its fiscal 2014 revenue outlook due to lower license sales where the timing of deal closures shifted out of Q1. Progress (NASDAQ:PRGS) will report full results for Q1 after the market close on March 27, 2014.