Regeneron Pharmaceuticals, Inc. · REGN · FY2025 Q1 · Calendar Q2 2025

Regeneron: Dupixent and EYLEA HD growth offset retinal-market pressure

The supplied analysis supports a constructive but conditional view: Dupixent and EYLEA HD growth, pipeline progress and manufacturing expansion provide growth support, while retinal-market pressure, regulatory execution and rising investment remain material offsets.

Reported Before market openNASDAQHealthcare $76.91B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $9.05
EPS surprise — Reported versus consensus
Reported revenue — Consensus $3.33B
Revenue surprise — Reported versus consensus

Market reaction

prior-close to event-session close
Stock move -6.9% Event window
SPY move +0.6% Same window
Abnormal move -7.5% Stock minus SPY
Volume 2.4× Versus trailing sessions
Subsequent drift +4.0% Up to 20 sessions
REGNSPY benchmark

Ask FN2 about REGN FY2025 Q1

Transcript, numbers and history already loaded

Free account. Your question opens in FN2 with this report's transcript and numbers attached.

Transcript intelligence

What changed

Compared with the prior-quarter analysis, guidance sentiment moved from maintained to raised. The current analysis emphasizes Dupixent and EYLEA HD growth, a priority-review sBLA for EYLEA HD label expansion, a $3 billion manufacturing agreement, and higher capital spending, while also flagging the EYLEA HD pre-filled syringe CRL and anti-VEGF market pressure.

Guidance delta

Management guidance sentiment was raised, including higher gross-margin guidance, while capital spending was increasing.

Key takeaways

  • Management highlighted 20% year-over-year Dupixent sales growth and 54% year-over-year EYLEA HD sales growth.
  • The broader anti-VEGF market remained pressured by off-label Avastin use and a patient-assistance funding gap.
  • Pipeline approvals, label expansions and expanded U.S. manufacturing capacity were central to the growth outlook.
  • The supplied analysis identifies regulatory execution, competition and higher investment as the main watchpoints.

Management priorities

  • Expand Dupixent into additional indications and geographies.
  • Advance EYLEA HD label enhancements, including four-week dosing and retinal vein occlusion.
  • Progress linvoseltamab, odronextamab, Libtayo and obesity-program development.
  • Expand U.S. manufacturing and pre-fill capacity.

Follow REGN with an agent that reads every filing, transcript, and price print. Free to start.

Try FN2 free

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
Show less

Analyst Consensus ?

ConsensusBuy49 ratings
Bullish3469.4%
Neutral1530.6%
Bearish00.0%

Analyst 52W Price Targets

$765.95Current
$584Low
$848.41Average
$1,292High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 12, 2026. Not an FN2 forecast.

Firm-level rating actions

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

FirmRatingPrior ratingActionDate
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
Jefferies Buy BuyMaintainOct 1, 2026
Show 44 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $765.94. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
RBC CapitalBrian Abrahams$810$730.08 +5.8%Oct 8, 2026
Raymond JamesChris Raymond$911$742.12 +18.9%Oct 8, 2026
Truist FinancialAnalyst unavailable$780$747.51 +1.8%Oct 7, 2026
Morgan StanleyAnalyst unavailable$779$743.6 +1.7%Oct 7, 2026
JefferiesAnalyst unavailable$930$741.16 +21.4%Oct 1, 2026
See 146 more

Track every rating change on REGN the moment it posts. Free to start.

Start free

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

Healthcare peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
COO The Cooper Companies, Inc. FY2026 Q3 · Calendar Q3 2026 +2.7% -14.7% CooperCompanies beats expectations as inventory reduction weighs on vision revenue
MDT Medtronic plc FY2027 Q1 · Calendar Q3 2026 +4.3% +1.5% Medtronic raises FY27 outlook as growth broadens across platforms

Latest beats and misses

Who reports next

Get the REGN recap when the next report posts

One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.

Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2025-04-15T00:03:42.498162+00:00
  3. Polygon adjusted daily market bars · 2026-10-12T14:40:43.962105+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-12T14:40:43.959376+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 2026-10-12. For educational purposes only; not investment advice.