Regeneron Reports Better-Than-Expected Q4 Earnings Amid Competitive Pressures
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 30 2026
0mins
Should l Buy REGN?
Source: stocktwits
- Earnings Beat: Regeneron reported a non-GAAP earnings per share of $11.44 for Q4, reflecting a 5% decline year-over-year but still surpassing analysts' expectations of $10.74, indicating resilience amid competitive pressures.
- Sales Dynamics: Eylea HD sales surged 66% in Q4, although overall Eylea sales fell 52% due to competitive pressures and a shift to higher-dose versions, highlighting the tension between strong demand for new products and pricing challenges.
- Collaboration Revenue Growth: Revenue from the Sanofi collaboration rose 35%, primarily driven by strong sales of Dupixent, which underscores Regeneron's enhanced profitability in the antibody drug market and solidifies its market position.
- R&D Cost Outlook: The company forecasts non-GAAP R&D costs of $5.90 to $6.10 billion for 2026, significantly higher than $5.15 billion in 2025, demonstrating ongoing investment and confidence in future product development.
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Analyst Views on REGN
Wall Street analysts forecast REGN stock price to rise
22 Analyst Rating
16 Buy
6 Hold
0 Sell
Moderate Buy
Current: 783.650
Low
637.00
Averages
808.50
High
1057
Current: 783.650
Low
637.00
Averages
808.50
High
1057
About REGN
Regeneron Pharmaceuticals, Inc. is a fully integrated biotechnology company. The Company invents, develops, manufactures, and commercializes medicines for people with serious diseases. Its products and product candidates in development are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases, and rare diseases. The Company is accelerating drug development using its proprietary technologies, such as VelociSuite, which produces optimized fully human antibodies and new classes of bispecific antibodies. VelociSuite consists of VelocImmune, VelociGene, VelociMouse, VelociMab, Veloci-Bi, VelociT, VelociHum, and other related technologies. Its marketed products include EYLEA (aflibercept); Dupixent (dupilumab); Libtayo (cemiplimab); Ordspono (odronextamab); Kevzara (sarilumab); Itepekimab; Linvoseltamab, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Registration Trial Plans: Based on Phase 3 trial results, Regeneron plans to initiate additional registration trials this year to further validate the efficacy of treatments for cat and birch allergies, which not only strengthens the company's R&D pipeline but also paves the way for future market launches.
- Long-term Efficacy Analysis: Long-term efficacy analyses of Dupixent show that early sustained treatment significantly reduces IgE levels in children, and in adult asthma patients, early use of Dupixent may decrease exacerbations and corticosteroid use, further solidifying its position in treatment regimens.
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- Expansion of Dupixent Patient Base: Over 1 million patients are currently on Dupixent treatment globally, with significant future growth potential anticipated from new indications like COPD, further solidifying its market leadership.
- EYLEA HD Market Performance: EYLEA HD reported net sales of $305 million in Q4, and despite competitive pressures, upcoming launches of a prefilled syringe and label expansions are expected to position it as the new standard in the anti-VEGF category.
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- Pipeline Outlook: Regeneron has approximately 40 programs in clinical development, with several pivotal data readouts anticipated in the next 12 to 18 months, further enhancing the company's potential for medium- to long-term shareholder value growth.
See More
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- Positive Financial Performance: The company’s recent adjustments indicate strong financial performance and confidence in future growth.
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