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Based in Tarrytown, New York, Regeneron Pharmaceuticals, Inc. (REGN) is a biotechnology company focused on discovering, developing, and commercializing innovative medicines. It is known for its robust pipeline and successful products such as EYLEA and Dupixent. With a market cap of $119.62 billion, Regeneron is a recognized leader in the biotechnology industry, dedicated to advancing science and delivering transformative therapies. The company is set to announce its fiscal Q2 earnings results before the market opens on Thursday, Aug. 1.
Ahead of the event, analysts expect REGN to report a profit of $8.89 per share, up 1.1% from $8.79 per share in the year-ago quarter. In the last four quarters, the company has surpassed Wall Street’s bottom-line estimates in three and missed on another occasion.
Its adjusted earnings of $7.97 per share for the last reported quarter missed the consensus estimate by 5.8%. Declining Eylea sales and higher expenses despite growth in Dupixent and other products were the primary reasons behind the earnings miss.
For fiscal 2024, analysts expect REGN to report EPS of $37.17, down 1.3% from $37.66 in fiscal 2023.
REGN stock is up 23.6% on a YTD basis, outperforming the broader S&P 500 Index's ($SPX) 17.2% gains and the S&P Biotech SPDR's (XBI) 11.9% return over the same time frame.
REGN reported Q1 earnings on May 2. Revenue for the period was $3.15 billion, falling short of analysts' expectations of $3.19 billion. However, the stock surged 3.8% after posting Q1 results.
The consensus opinion on REGN stock is bullish, with an overall “Strong Buy” rating. Out of 26 analysts covering the stock, 19 advise a “Strong Buy” rating, one suggests a “Moderate Buy” rating, five recommend a “Hold,” and one suggests a “Moderate Sell.”
This configuration is slightly more bullish than three months ago when the stock had 18 “Strong Buy” ratings. REGN's average analyst price target is $1.064.32, which indicates that the stock trades at a premium.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
