Regeneron Pharmaceuticals, Inc. · REGN · FY2024 Q4 · Calendar Q1 2025

Regeneron balances product momentum with EYLEA and pipeline risks

The supplied analysis supports a constructive but conditional view: product expansion and a broad pipeline can support continued growth, but the thesis depends on offsetting EYLEA competition, executing regulatory milestones and converting clinical programs into approved products.

Reported Before market openNASDAQHealthcare $81.41B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $11.21
EPS surprise — Reported versus consensus
Reported revenue — Consensus $3.75B
Revenue surprise — Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +4.5% Event window
SPY move +0.7% Same window
Abnormal move +3.9% Stock minus SPY
Volume 1.8× Versus trailing sessions
Subsequent drift -1.4% Up to 20 sessions
REGNSPY benchmark

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Transcript intelligence

What changed

The current analysis adds a new quarterly dividend, expanded share-repurchase capacity and an increasing capex outlook. It also places greater emphasis on higher 2025 R&D spending, EYLEA HD extensions and a broad set of pivotal pipeline programs.

Guidance delta

Maintained in the supplied analysis; no new quantitative guidance change was provided.

Key takeaways

  • Management described growth led by Dupixent, Libtayo and EYLEA HD.
  • A new dividend and expanded repurchase authorization changed the capital-return profile.
  • EYLEA HD label extensions and a prefilled syringe are intended to support competitiveness.
  • The pipeline remains a major focus, but approvals, readouts and safety outcomes are key execution risks.

Management priorities

  • Expand Dupixent into additional indications, including COPD, chronic spontaneous urticaria and bullous pemphigoid.
  • Advance EYLEA HD label extensions and the prefilled-syringe program.
  • Progress Libtayo, linvoseltamab, odronextamab and Factor XI programs toward regulatory milestones.
  • Invest in pivotal studies across oncology, immunology, obesity and complement diseases.

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Earnings History

Estimate Beat Miss Match
REGN REVENUE earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q4 '23 estimate $3B Q4 '23 actual $3B, beat Q1 '24 estimate $3B Q1 '24 actual $3B, miss Q2 '24 estimate $3B Q2 '24 actual $4B, beat Q3 '24 estimate $4B Q3 '24 actual $4B, beat Q2 '25 estimate $3B Q2 '25 actual $4B, beat Q3 '25 estimate $4B Q3 '25 actual $4B, beat Q4 '25 estimate $4B Q4 '25 actual $4B, beat Q1 '26 estimate $3B Q1 '26 actual $4B, beat Q2 '26 estimate $4B Q2 '26 actual $4B, beat Q3 '26 estimate $5B Q4 '26 estimate $4B Q1 '27 estimate $4B
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Analyst Consensus ?

ConsensusBuy49 ratings
Bullish3571.4%
Neutral1428.6%
Bearish00.0%

Analyst 52W Price Targets

$782.04Current
$584Low
$850.4Average
$1,292High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 19, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
UBS Buy NeutralUpgradeOct 15, 2026
RBC Capital Sector Perform Sector PerformMaintainOct 8, 2026
Truist Securities Buy BuyMaintainOct 7, 2026
Morgan Stanley Equal Weight Equal WeightMaintainOct 7, 2026
JP Morgan Overweight OverweightMaintainOct 6, 2026
Show 44 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $782.04. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
UBSAnalyst unavailable$978$778.36 +25.1%Oct 14, 2026
RBC CapitalBrian Abrahams$810$730.08 +3.6%Oct 8, 2026
Raymond JamesChris Raymond$911$742.12 +16.5%Oct 8, 2026
Truist FinancialAnalyst unavailable$780$747.51 -0.3%Oct 7, 2026
Morgan StanleyAnalyst unavailable$779$743.6 -0.4%Oct 7, 2026
See 147 more

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Company context

Snapshot as of publication

Regeneron Pharmaceuticals, Inc. is a global biopharmaceutical enterprise focused on discovering, inventing, developing, manufacturing, and bringing to market medical treatments for a wide array of illnesses. Its therapeutic portfolio includes EYLEA, an injection used to treat various ophthalmic conditions such as wet age-related macular degeneration, diabetic macular edema, myopic choroidal neovascularization, diabetic retinopathy, and macular edema resulting from retinal vein occlusion (both central and branch). Other significant offerings are Dupixent, an injectable solution for atopic dermatitis and asthma in both adults and pediatric patients; Libtayo, indicated for metastatic or locally advanced cutaneous squamous cell carcinoma; Praluent, an injection prescribed for adults with heterozygous familial hypercholesterolemia or clinical atherosclerotic cardiovascular disease; REGEN-COV for COVID-19; and Kevzara, a solution targeting rheumatoid arthritis in adult patients.…

Historical context

All REGN earnings

Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2025-02-03T14:04:14.982937+00:00
  3. Polygon adjusted daily market bars · 2026-10-19T21:30:44.058337+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-19T21:30:44.054688+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-19. For educational purposes only; not investment advice.