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Tarrytown, New York-based Regeneron Pharmaceuticals, Inc. (REGN) discovers, invents, develops, manufactures, and commercializes medicines for various diseases. With a market cap of $130.5 billion, Regeneron’s operations span various countries in North America, Europe, and Asia.
Companies worth $10 billion or more are generally described as "large-cap stocks," and Regeneron fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the biotechnology industry. The company has a track record of developing new technologies to help discover better and novel antibody medicines.
Regeneron has slipped 3.5% from its 52-week high of $1,211.20 reached on Aug. 27, which is also its all-time high. REGN gained 18.1% over the past three months outpacing the S&P 500 Index’s ($SPX) 4.7% gains over the same time frame.
Over the longer term, Regeneron’s stock looks even more appealing. REGN rallied 33.1% in 2024 and 40.5% over the past year outperforming SPX’s 15.9% gains on a YTD basis and 22.4% returns over the past 52 weeks.
To confirm the bullish trend, Regeneron has been trading above its 200-day moving average over the past year and above its 50-day moving average since early May.
Shares of Regeneron rose 1.3% after the release of its stronger-than-expected Q2 earnings on Aug. 1, driven by robust sales of its eczema and eye treatments. The company’s revenue grew 12.3% annually to $3.6 billion due to significant sales growth in Libtayo, Praluent, and Evkeeza. The company also reported a 10.5% increase in R&D investment reaching $1.2 billion, exhibiting its commitment to innovation.
Moreover, in April, the Company's board authorized a new share buyback program to repurchase up to $3 billion of the Company's common stock. In the previous quarter, it repurchased shares worth $601 million, demonstrating its commitment to shareholders.
Regeneron’s competitor, BeiGene, Ltd. (BGNE), underperformed REGN. BGNE dipped 9.9% over the past 52 weeks and gained 4.4% in 2024, lagging behind REGN’s double-digit returns.
Among the 25 analysts covering the REGN stock, the consensus rating is a “Strong Buy.” Although REGN is trading flat against its mean price target of $1,164.74, the street-high target of $1,300 represents a potential upside of 11.2% from current price levels.
On the date of publication, Aditya Sarawgi 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.
