Key Stats for Regeneron Pharmaceuticals Stock
- This Week Performance: -3%
- 52-Week Range: $476 to $821
- Current Price: $762
What Happened to Regeneron Stock?
Regeneron Pharmaceuticals (REGN) shares closed at $782 yesterday, trading within striking distance of their 52-week high of $821.11 and holding near multi-month highs as a steady stream of pipeline catalysts continued to build investor confidence heading into a pivotal 2026.
Also just yesterday, the FDA accepted Regeneron’s BLA for garetosmab under Priority Review for FOP, a debilitating ultra-rare disease where soft tissues are progressively replaced by abnormal bone, with a target action date of August 2026.
The garetosmab data behind the filing is striking, with the Phase 3 OPTIMA trial showing a 94% reduction in new heterotopic bone lesions at the 3mg/kg dose versus placebo and a greater than 99% reduction in total lesion volume, results CEO Leonard Schleifer called unprecedented.
The market is increasingly viewing Regeneron less as a two-product DUPIXENT and EYLEA story and more as a diversified late-stage platform, with at least 4 FDA approvals expected in 2026, 18 new Phase 3 studies initiating, and fianlimab plus LIBTAYO melanoma data still to come in H1 2026.
DUPIXENT delivered $17.8 billion in full year 2025 global sales with more than 1.4 million patients on therapy across 8 approved indications, while EYLEA HD grew 66% in Q4 to $506 million, giving the company two compounding commercial engines funding one of the deepest pipelines in large-cap biotech.
With the garetosmab decision due in August, a fianlimab readout in H1, a cemdisiran gMG regulatory submission in Q1, and a GLP/PCSK9 combo clinical program launching later this year, 2026 represents the most catalyst-dense year in Regeneron’s history and the clearest argument yet that its valuation reflects only a fraction of its pipeline potential.
Where is the Regeneron Stock Headed?
The garetosmab Priority Review acceptance adds a concrete August 2026 FDA decision date to a pipeline that already includes fianlimab melanoma data in H1, a cemdisiran gMG submission in Q1, and a DB-OTO gene therapy decision, making the next six months the most catalyst-rich stretch in Regeneron’s history.
The fundamental case carries its own weight, with Street estimates projecting 2026 revenue of $15.63 billion (+9% YoY) and normalized EPS of $44.69, supported by DUPIXENT’s $17.8 billion full year 2025 base, EYLEA HD’s 66% Q4 growth, and net income margins holding above 31%.
17 analysts rate REGN a Buy and 2 rate it Outperform as of February 19, with a mean price target of $868.04 implying roughly 11% upside from the current price of $782.38, a relatively modest gap that reflects how much of the pipeline bulls already have priced in.
The target range spans from a low of $730 to a high of $1,057, a spread that captures the full debate between those who see EYLEA biosimilar headwinds and slowing EPS growth as structural overhangs and those who believe fianlimab and the Factor XI and obesity programs represent the next multi-billion dollar wave.
TIKR’s valuation model built on a pipeline that management expects to generate at least 4 FDA approvals in 2026 alone prices REGN at $1,226.75 by December 2030, implying a 56.8% total return and a 9.7% annualized IRR from current levels as the new product cycle absorbs the EYLEA decline.
Regeneron ramps R&D spend to $5.9 billion to $6.1 billion to fund 18 new Phase 3 studies, which compresses EBITDA margins from 61.2% in 2021 to a projected 35.3% in 2026, and the model projects an additional 2% annual P/E contraction as the market prices in that spending cycle.
At $782.38, Regeneron looks modestly undervalued relative to the depth and near-term density of its pipeline, but the real rerating opportunity depends on fianlimab delivering a clean melanoma readout in H1 and garetosmab receiving FDA approval in August, two binary events that will define the stock’s trajectory for the rest of 2026.
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