Regeneron Pharmaceuticals, Inc. · REGN · FY2026 Q3 · Calendar Q4 2026

Regeneron: Core Brands Grow as Pipeline Milestones Advance

The quarter supports a constructive operating thesis: resilient demand for Dupixent, EYLEA HD and Libtayo is funding a broad pipeline, but the next phase depends on regulatory execution, launches and defense against competition.

Reported Before market openNASDAQHealthcare $84.30B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $16.42
EPS surprise — Reported versus consensus
Reported revenue — Consensus $4.56B
Revenue surprise — Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +12.3% Event window
SPY move -1.4% Same window
Abnormal move +13.6% Stock minus SPY
Volume 1.9× Versus trailing sessions
Subsequent drift 0.0% Up to 20 sessions
REGNSPY benchmark

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Transcript intelligence

What changed

Compared with the prior quarter, Regeneron reported continued core-brand momentum while adding Q3 pipeline detail: a CIDEB siRNA showed approximately 70% liver-fat reduction in 12 weeks after a single dose, the Sanofi alliance expanded to four next-generation antibodies, and additional registrational programs were outlined.

Guidance delta

Guidance was maintained; management indicated modest refinements to 2026 guidance and higher R&D spending in 2027.

Key takeaways

  • Dupixent, EYLEA HD and Libtayo drove double-digit top- and bottom-line growth in Q3 2026.
  • The pipeline advanced across cemdisiran, CIDEB siRNA, ubamatamab and next-generation type 2 inflammation antibodies.
  • Management highlighted the expanded Sanofi alliance, upcoming regulatory decisions and continued commercial momentum.

Management priorities

  • Advance regulatory filings and approvals for cemdisiran and the EYLEA HD prefilled syringe.
  • Progress registrational programs in POTS, ovarian cancer, obesity and diabetes.
  • Use the expanded Sanofi alliance and internal pipeline to broaden development and commercialization.

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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

$912.6Current
$584Low
$853.69Average
$1,292High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 30, 2026. Not an FN2 forecast.

Firm-level rating actions

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

FirmRatingPrior ratingActionDate
Canaccord Genuity Buy BuyMaintainOct 28, 2026
TD Cowen Buy BuyMaintainOct 21, 2026
Piper Sandler Overweight OverweightMaintainOct 19, 2026
UBS Buy NeutralUpgradeOct 15, 2026
RBC Capital Sector Perform Sector PerformMaintainOct 8, 2026
Show 44 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $912.6. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Piper SandlerAnalyst unavailable$865$790.74 -5.2%Oct 19, 2026
UBSAnalyst unavailable$978$778.36 +7.2%Oct 14, 2026
RBC CapitalBrian Abrahams$810$730.08 -11.2%Oct 8, 2026
Raymond JamesChris Raymond$911$742.12 -0.2%Oct 8, 2026
Truist FinancialAnalyst unavailable$780$747.51 -14.5%Oct 7, 2026
See 148 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

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Sources

  1. Earnings call transcript and parsed analysis · 2026-10-30T15:09:38.009468+00:00
  2. FN2 earnings calendar · 2026-10-30T01:23:13.979536+00:00
  3. Polygon adjusted daily market bars · 2026-10-30T15:20:46.216769+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-30T15:20:46.214153+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 2026-10-30. For educational purposes only; not investment advice.