Regeneron Pharmaceuticals, Inc.
REGN - NASDAQ - $702.33 ▼ -%0.97
-
Earnings Thu 30 Jul

Regeneron opens the
books on Thursday evening.

11 analysts' median target is $873[FMP target], stock is $702, +24.3% upside potential. After Q1 +6.3% EPS beat[FMP earnings], the stock moved +3.0%.

↓ summary below
Quick Take - in 40 seconds
A
BUY Council 2/6 - Moonshot 50

A = MoonshotScore 50[9-pillar formula] + Council 2/6[6-lens rule]. Form 4: 0 transactions[FMP Form 4].

Q4 consensus: revenue $3.8B[FMP est], EPS $10.88[FMP est]. 4 consecutive quarters of beat[FMP earnings].

Detailed analysis below ↓
$10.88 EPS Estimate Last year $11.44 - -16% YoY YoY
4 Beat Streak Expectations beaten consecutively for the last 4 quarters

Q1 EPS +6.3% beat[FMP] but the stock +3.0% D+1[FMP D+1]. Christopher Fenimore promised $230.6M CapEx + a sequential decline in Q4 during the Q1 earnings call[Christopher Fenimore capex transcript].

Watchlist

4 metrics stand out this quarter.

31% Investor Focus

Dupixent Growth

dupixent_growth

DUPIXENT global net sales increased 31% on a constant currency basis to $4.9 billion in the quarter, reinforcing its position as the foundation of our immunology franchise.

"Global DUPIXENT net sales increased 31% on a constant currency basis to $4.9 billion in the quarter."

- Leonard Schleifer, CEO - Q1 FY26 Earnings Call - April 29, 2026
52% Investor Focus

Eylea Hd Growth

eylea_hd_growth

EYLEA HD U.S. net product sales increased 52% year-over-year to $468 million, reflecting confidence in its clinical profile and dosing flexibility.

"EYLEA HD U.S. net product sales increased 52% year-over-year to $468 million."

- Leonard Schleifer, CEO - Q1 FY26 Earnings Call - April 29, 2026
$3 Investor Focus

Share Repurchase Program

share_repurchase_program

Regeneron's Board authorized a new $3 billion share repurchase program, reflecting confidence in our business and financial position.

"In support of that approach our Board authorized a new $3 billion share repurchase program, reflecting confidence in our business and financial position."

- Leonard Schleifer, CEO - Q1 FY26 Earnings Call - April 29, 2026
- Investor Focus

Otarmeni Free Access

otarmeni_free_access

Regeneron decided to make Otarmeni free in the United States because they believe it was the right thing to do for these families.

"We decided to make Otarmeni free in the United States because we believe it was the right thing to do for these families."

- George Yancopoulos - Q1 FY26 Earnings Call - April 29, 2026

Stock Expert AI - Methodology

Do our 9 pillars, 7 perspectives, and Munger lens point in the same direction?

MoonshotScore 50 / 100

9-pillar methodology. Gross Margin and Cash Runway strong. Revenue Growth weak.

How is it calculated? ->
Revenue Growth0.0Q1 vs Q2: growth negative (-1.9%, contraction)
Gross Margin8.0Q1: very high margin (81.4%, software/cloud territory)
Operating Leverage2.0op margin healthy (17.8%)
Cash Runway10.0FCF very strong ($0.8B, 3.7x CapEx)
R&D Intensity3.0very high R&D (42.0%, margin pressure risk)
Price Momentum4.0RSI 37.9 weak momentum, 50d below
News Sentiment8.0strong buy consensus (76%)
Council Score 2 / 6 Bullish

6 investor frameworks. 2 bullish (Ray Dalio, Buffett), 1 bearish (Ken Griffin), 3 neutral (Jim Simons, Klarman, Munger).

How is it calculated? ->
Ray Dalio macro - target upside +24.3%
Ken Griffin flow - 50d MA below
Jim Simons quant - RSI 38
Klarman value - target upside +24.3%
Buffett quality - ROE score 4/5
Munger valuation - target upside +24.3%
Munger's Mindset character & balance sheet lens
Fairly Valued

Quality business, trading at fair value.

How is it calculated? ->
Financial HealthStrong
Margin of SafetyModerate
Interest CoverageAdequate
ROIC vs WACCHealthy
Technical Levels - Pre-earnings positioning

What levels is the stock being tested at?

RSI(14)
37.9 RSI 37.9 weak momentum, 50d below
MACD
-6.70 price below 50d - resistance dominant
50d MA
$752 stock 6.7% below - short-term resistance
200d MA
$685 stock 2.5% above - long-term support
Volume (10d)
-82% decrease - low participation
Resistance
$873
Analyst median target - upgrade trigger if broken
Current
$702
Pre-earnings position
Support
$582
Invalidation - close below this is a technical breakdown
Pattern
Range
$582-$873 band - earnings breakout/breakdown trigger

Past Performance

Regeneron's last 8 quarters: 4 consecutive beats.

BEAT
Q2 FY25
$12.89 vs $8.43 est - +2.3%
BEAT
Q3 FY25
$11.83 vs $9.65 est - -0.2%
BEAT
Q4 FY25
$11.44 vs $10.74 est - +1.8%
BEAT
Q1 FY26
$9.47 vs $8.91 est - +3.0%

Q1 (April 29, 2026): EPS $9.47 vs $8.91 est[FMP], +6.3% beat. D+1 movement: +3.0%[FMP D+1]. Decline despite beat - market reacted to guidance, not numbers.

Three scenarios: what could happen?

EPS < $10.55 (no guidance)

Q1: EPS $9.47 vs $8.91 beat[FMP], stock +3.0% D+1[FMP].

Backlog concentration

No RPO/backlog concentration disclosed in Q1 earnings call.

CapEx shock

Q1 CapEx $230.6M[FMP cashflow]. Q1 op margin 17.8%[FMP op margin] - this level in Q4 is sensitive to CapEx revision risk.

Framework - Position discipline

After the data arrives: 3 scenarios, 3 windows

Not advice - a structural framework for earnings night. Decision discipline is yours.

Scenario A - Beat
Q4 EPS > $10.88 + CapEx discipline
Threshold: EPS > $10.88[FMP est].
Target: Break above median target $873[FMP target]; high target $1057[FMP] upper bound.
Scenario B - In-Line
EPS approx $10.88 + CapEx < $230.6M
Threshold: EPS approx $10.88[FMP est], Q4 CapEx < $230.6M[FMP].
Target: Consolidation in the band between current $702[FMP] and median $873[FMP].
Scenario C - Miss
EPS < $10.55 or CapEx >= $230.6M
Threshold: EPS < $10.55[FMP estx0.97].
Target: Current $702 below SMA200 $685[FMP], if rejection continues, $582[derived] support activates.
Sizing
Earnings volatility -> max portfolio 1-2%. Waiting for earnings is not a gamble, it's a position entrustment.
Timing
IV crush within 24 hours post-earnings. Waiting for premium decay makes options preferable to spot.
Staging
Don't go all-in at once, divide into 3: initial reaction, 24 hours later, after Friday's close.

Market Outlook

What do 11 analysts say?

Wall Street Consensus
$873
12-month median target price (+24.3% upside potential)
22
BUY
7
HOLD
0
SELL
Risk Management
$582
Invalidation level - critical support threshold
$752 - 50-day MA (below, -6.7%)
$685 - 200-day MA (above, +2.5%)
IV Crush risk (sudden drop in inflated option premiums before earnings): Option premiums are inflated before earnings.
Verdict - REGN Q4 FY26
A

You read it in 5 minutes. When the numbers come out on Thursday evening - you know what you're looking at.

Data arrives at night. The framework is ready now.

Data arrives on Thursday evening. The framework is ready on this page: Q4 EPS threshold $10.88[FMP], CapEx threshold "below $230.6M"[Christopher Fenimore]. Two anchors, three scenarios.

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Try Pro free for 14 days REGN dossier ->

Educational tool, not investment advice. Past performance does not guarantee future results.

Calendar

Catalyst Calendar - 90-day forward look

Jul 30, 2026EARNINGSQ4 FY26 results (after market close) + earnings call
Jul 31, 2026PRICEFirst trading day after earnings - 200dMA test + IV crush
Sep 13, 2026FILING10-Q deadline - segment breakdown + RPO detail (SEC rule: quarter-end + 45 days)
~Oct 30, 2026EARNINGSQ1 FY27 (next quarter, date not yet scheduled in FMP)

DATA GAP: Events not in the FMP /stable/calendar feed - Investor day, analyst day, product launches, regulatory dates. These require company IR page scraping or manual calendar entry.

Frequently Asked Questions

What does the REGN earnings preview cover?

This REGN (REGN) earnings preview covers the analyst consensus, key catalysts, and what to watch on the earnings call.

What should investors watch for in REGN earnings?

Consensus EPS, revenue guidance, segment growth rates, and the tone of management commentary — the full breakdown with sources is on this page.