Broad Pipeline And Global Access Will Build Future Success

Regeneron Pharmaceuticals’ price target was raised to $722.20 as analysts cited continued outperformance and growth potential for Dupixent and Eylea, strong late-stage trial results in myasthenia gravis, and reinforced market leadership following competitor setbacks.

Analyst Commentary

• Bullish analysts highlighted ongoing strength and growth potential for Dupixent and Eylea, with market share remaining dominant and robust prospects for Eylea HD.
• Positive Phase 3 readout in myasthenia gravis led to increased estimates, as efficacy data were competitive and the product offered a longer dosing interval with sustained effect.
• Recent quarterly results beat expectations, particularly on Dupixent sales and better-than-expected performance from Eylea, contributing to upward revisions in price targets.
• Management signals increased openness to differentiated, later-stage business development opportunities, expanding beyond a historical focus on early-stage assets.
• Competition setbacks for Sanofi and Amgen in atopic dermatitis trials reinforce the competitive positioning and ongoing franchise strength of Regeneron’s key assets.

What's in the News

• Regeneron reported positive Phase 3 results for garetosmab in fibrodysplasia ossificans progressiva, meeting the primary endpoint with over 90% reduction in new HO lesions, prompting the Data Monitoring Committee to recommend transition of placebo patients to garetosmab.
• Updated Phase 2 COURAGE trial analyses highlighted novel obesity treatment combinations using semaglutide, trevogrumab, and garetosmab, showing continued pipeline diversification in metabolic disease.
• Five-year follow-up from the Phase 3 EMPOWER-Lung 3 trial demonstrated outcomes for Libtayo plus chemotherapy versus chemotherapy alone in first-line non-small cell lung cancer.
• FDA granted accelerated approval to Lynozyfic (linvoseltamab-gcpt) for patients with relapsed or refractory multiple myeloma after at least four prior therapies.
• Dupixent received US approval as the first targeted therapy for bullous pemphigoid, expanding its label to eight type 2 inflammatory diseases.
• Cemdisiran met primary and key secondary endpoints in the Phase 3 NIMBLE trial for generalized myasthenia gravis, advancing Regeneron's C5-targeting pipeline.
• Regeneron’s Phase 3 allergen-blocking antibody candidates demonstrated results in cat and birch allergy studies, supporting first-in-class potential in allergic disease.
• The FDA extended action dates for two EYLEA HD regulatory submissions to the fourth quarter of 2025, delaying potential approvals for new dosing and indications.
• Regeneron completed a repurchase of 4.1% of shares outstanding for $3 billion under the buyback program announced in May 2024.
• Regeneron was dropped from multiple Russell growth indices but was added to the Russell 1000 Dynamic Index.

Valuation Changes

Summary of Valuation Changes for Regeneron Pharmaceuticals

• The Consensus Analyst Price Target remained effectively unchanged, moving only marginally from $716.87 to $722.20.
• The Future P/E for Regeneron Pharmaceuticals remained effectively unchanged, moving only marginally from 16.03x to 16.14x.
• The Consensus Revenue Growth forecasts for Regeneron Pharmaceuticals remained effectively unchanged, at 5.4% per annum.