Upside case
Bull case
$1070+75.4%
REGN would need investors to value it at roughly 23x earnings — about 10x more generous than today's 13x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated Jun 18, 2026
Regeneron Pharmaceuticals, Inc. (REGN) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
48
analysts
32 bullish · 0 bearish · 48 covering REGN
Strong Buy
0
Buy
32
Hold
16
Sell
0
Strong Sell
0
Consensus Target
$836
+37.1% vs today
Scenario Range
$512 – $1070
Model bear to bull value window
Coverage
48
Published analyst ratings
Valuation Context
13.1x
Forward P/E · Market cap $63.4B
REGN price targets
Three scenarios for where REGN stock could go
Current
~$610
Confidence
57 / 100
Updated
Jun 18, 2026
Where we are now
Current · $610
Bear
$512
Base
$812
Bull
$1070
Market caseClosest to today
Base case
$812+33.2%
At 17x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$512-16.1%
If investor confidence fades or macro conditions deteriorate, a 2x multiple contraction could push REGN down roughly 16% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Regeneron Pharmaceuticals, Inc.
REGN · NASDAQHealthcareBiotechnologyDecember year-end
Regeneron Pharmaceuticals is a biotechnology company that discovers, develops, and commercializes innovative medicines for serious diseases. It generates revenue primarily from sales of its flagship products — EYLEA for eye diseases (~60% of revenue) and Dupixent for inflammatory conditions (~30%) — with additional income from collaborations and royalties. The company's competitive advantage lies in its proprietary VelocImmune technology platform for creating human antibodies and its deep expertise in genetic research, which enables rapid drug discovery and development.
Market Cap
$63.4B
Revenue TTM
$14.9B
Net Income TTM
$4.4B
Net Margin
29.6%
REGN Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
83%Exceptional
12 quarters tracked
Revenue Beat Rate
83%Exceptional
vs consensus estimates
Avg EPS Surprise
+10.3%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$12.89/$8.43
Revenue
$3.7B/$3.3B
Q4 2025
EPS
$11.83/$9.65
Revenue
$3.8B/$3.6B
Q1 2026
EPS
$11.44/$10.74
Revenue
$3.9B/$3.8B
Q2 2026
EPS
$9.47/$8.91
Revenue
$3.6B/$3.5B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $12.89/$8.43 | +52.9% | $3.7B/$3.3B | +11.8% |
| Q4 2025 | $11.83/$9.65 | +22.6% | $3.8B/$3.6B | +4.5% |
| Q1 2026 | $11.44/$10.74 | +6.5% | $3.9B/$3.8B | +1.9% |
| Q2 2026 | $9.47/$8.91 | +6.3% | $3.6B/$3.5B | +3.6% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$16.3B
+9.0% YoY
FY2
$17.6B
+8.5% YoY
EPS Outlook
FY1
$47.74
+16.2% YoY
FY2
$55.03
+15.3% YoY
Trailing FCF (TTM)$4.2B
FCF Margin: 27.9%
Next Earnings
July 30, 2026
Expected EPS
$10.85
Expected Revenue
$3.8B
REGN beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
REGN Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $14.3B
Product Mix
Latest annual revenue by segment or product family
Collaboration Revenue
51.1%
+21.0% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
89.6%
YoY unavailable
Tap, hover, or focus a slice to inspect segment detail.
Collaboration Revenue is the largest disclosed segment at 51.1% of FY 2025 revenue, up 21.0% YoY.
UNITED STATES is the largest reported region at 89.6%, with no year-over-year comparison yet.
REGN Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Fair versus peers
Fair value est. $633 — implies +3.7% from today's price.
Upside to Fair Value
3.7%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
REGN
14.7x
vs
S&P 500
24.4x
40% discount
vs Healthcare Trailing P/E
REGN
14.7x
vs
Healthcare
22.1x
34% discount
vs REGN 5Y Avg P/E
Today
14.7x
vs
5Y Average
18.0x
18% discount
Forward PE
13.1x
S&P 500
18.8x
-30%
Healthcare
18.3x
-28%
5Y Avg
—
—
Trailing PE
14.7x
S&P 500
24.4x
-40%
Healthcare
22.1x
-34%
5Y Avg
18.0x
-18%
PEG Ratio
2.32x
S&P 500
1.66x
+40%
Healthcare
1.59x
+46%
5Y Avg
—
—
EV/EBITDA
15.3x
S&P 500
15.2x
+0%
Healthcare
14.2x
+7%
5Y Avg
16.3x
-6%
Price/FCF
15.5x
S&P 500
20.7x
-25%
Healthcare
18.5x
-16%
5Y Avg
19.9x
-22%
Price/Sales
4.4x
S&P 500
3.1x
+43%
Healthcare
2.6x
+68%
5Y Avg
6.1x
-27%
Dividend Yield
0.56%
S&P 500
1.91%
-71%
Healthcare
1.50%
-63%
5Y Avg
0.44%
+27%
| Metric | REGN | S&P 500 | Healthcare | 5Y Avg REGN |
|---|---|---|---|---|
| Forward PE | 13.1x | 18.8x-30% | 18.3x-28% | — |
| Trailing PE | 14.7x | 24.4x-40% | 22.1x-34% | 18.0x-18% |
| PEG Ratio | 2.32x | 1.66x+40% | 1.59x+46% | — |
| EV/EBITDA | 15.3x | 15.2x | 14.2x | 16.3x |
| Price/FCF | 15.5x | 20.7x-25% | 18.5x-16% | 19.9x-22% |
| Price/Sales | 4.4x | 3.1x+43% | 2.6x+68% | 6.1x-27% |
| Dividend Yield | 0.56% | 1.91% | 1.50% | 0.44% |
REGN trades above S&P 500 benchmarks on 2 of 6 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolREGN Financial Health
Verdict
Strong
REGN generates $4.2B in free cash flow at a 27.9% margin — returns 6.8% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$14.9B
Revenue Growth
TTM vs prior year
+5.9%
Gross Margin
Gross profit as a share of revenue
84.5%
Operating Margin
Operating income divided by revenue
24.3%
Net Margin
Net income divided by revenue
29.6%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$41.07
Free Cash Flow (TTM)
Cash generation after capex
$4.2B
FCF Margin
FCF as share of revenue — the primary cash quality signal
27.9%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
8.9%
ROA
Return on assets, trailing twelve months
11.1%
Cash & Equivalents
Liquid assets on the balance sheet
$3.1B
Net Cash
Cash exceeds total debt — no net leverage
$412M
Debt Serviceability
Net debt as a multiple of annual free cash flow
Net cash ✓
ROE
Return on equity, trailing twelve months
14.3%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
6.8%
Dividend
0.6%
Buyback
6.3%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$4.0B
Dividend / Share
Annualized trailing dividend per share
$3.41
Payout Ratio
Share of earnings distributed as dividends
8.2%
Shares Outstanding
Declining as buybacks retire shares
104M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageREGN Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 17, 2026
High Risk
Eylea sales decline
Eylea sales are expected to fall sharply due to increasing competition in the market.
High Risk
Dupixent growth slowdown
Growth of Dupixent is projected to slow as competition intensifies.
Medium
Pipeline setbacks
Investors are concerned about potential pipeline setbacks in 2026 impacting future growth.
Medium
R&D investment pressure
Continued high R&D investment may strain financials if not offset by revenue growth.
Lower
Pricing environment risk
A stable pricing environment for biologics is assumed, but any changes could impact profitability.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why REGN Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 17, 2026
Strong product pipeline
Regeneron focuses on discovering and developing medicines for serious medical conditions, indicating a robust pipeline of potential treatments.
Investor relations focus
The company maintains a dedicated Investor Relations website, showcasing transparency and engagement with stockholders and analysts.
Biotechnology leadership
As a long-standing biotech firm since 1988, Regeneron has established expertise in developing and commercializing innovative therapies.
Stock market visibility
Regeneron's stock (REGN) is actively tracked with real-time updates and analysis, reflecting strong market interest.
Strategic roadmap
The company's focus on clear planning and development roadmaps suggests disciplined execution of its business strategy.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
REGN Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$609.94
52W Range Position
34%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$503.25
+21.2% from the low
52-Week High
$821.11
-25.7% from the high
1 Month
-3.09%
3 Month
-18.03%
YTD
-21.4%
1 Year
+18.8%
3Y CAGR
-7.9%
5Y CAGR
+2.5%
10Y CAGR
+5.6%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
REGN vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
13.1x
vs 13.5x median
-3% below peer median
Revenue Growth
+9.0%
vs +11.0% median
-18% below peer median
Net Margin
29.6%
vs 13.9% median
+113% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
REG REGN Regeneron Pharmaceuticals, Inc. | $63.4B | 13.1x | +9.0% | 29.6% | Buy | +37.1% |
BII BIIB Biogen Inc. | $29.0B | 13.5x | +2.8% | 13.9% | Buy | +11.1% |
VRT VRTX Vertex Pharmaceuticals Incorporated | $114.9B | 23.4x | +11.0% | 35.4% | Buy | +22.7% |
INC INCY Incyte Corporation | $19.6B | 13.0x | +11.3% | 26.7% | Buy | +11.8% |
BMR BMRN BioMarin Pharmaceutical Inc. | $10.5B | 11.1x | +19.2% | 8.3% | Buy | +64.4% |
ABB ABBV AbbVie Inc. | $383.2B | 15.2x | +8.7% | 6.9% | Buy | +18.6% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
REGN Dividend and Capital Return
REGN returns capital mainly through $4.0B/year in buybacks (6.3% buyback yield), with a modest 0.56% dividend — combining for 6.8% total shareholder yield.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
6.8%
Dividend + buyback return per year
Buyback Yield
6.3%
Dividend Yield
0.56%
Payout Ratio
8.2%
How REGN Splits Its Return
Buyback 6.3%
Dividend 0.56%Buybacks 6.3%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$3.41
Growth Streak
Consecutive years of dividend increases
1Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$4.0B
Estimated Shares Retired
7M
Approx. Share Reduction
6.3%
Shares Outstanding
Current diluted share count from the screening snapshot
104M
At 6.3%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $1.88 | — | — | — |
| 2025 | $3.52 | — | 4.7% | 5.2% |
FAQ
7 questionsREGN Investor Questions
Common questions answered from live analyst data and company financials.
01Is Regeneron Pharmaceuticals, Inc. (REGN) stock a buy or sell in 2026?
Regeneron Pharmaceuticals, Inc. (REGN) is rated Buy by Wall Street analysts as of 2026. Of 48 analysts covering the stock, 32 rate it Buy or Strong Buy, 16 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $836, implying +37.1% from the current price of $610. The bear case scenario is $512 and the bull case is $1070.
02What is the REGN stock price target for 2026?
The Wall Street consensus price target for REGN is $836 based on 48 analyst estimates. The high-end target is $995 (+63.1% from today), and the low-end target is $641 (+5.1%). The base case model target is $812.
03Is Regeneron Pharmaceuticals, Inc. (REGN) stock overvalued in 2026?
REGN trades at 13.1x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals fair versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Regeneron Pharmaceuticals, Inc. (REGN) stock in 2026?
The primary risks for REGN in 2026 are: (1) Eylea sales decline — Eylea sales are expected to fall sharply due to increasing competition in the market. (2) Dupixent growth slowdown — Growth of Dupixent is projected to slow as competition intensifies. (3) Pipeline setbacks — Investors are concerned about potential pipeline setbacks in 2026 impacting future growth. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Regeneron Pharmaceuticals, Inc.'s revenue and earnings forecast?
Analyst consensus estimates REGN will report consensus revenue of $16.3B (+9.0% year-over-year) and EPS of $47.74 (+16.2% year-over-year) for the upcoming fiscal year. The following year, analysts project $17.6B in revenue.
06When does Regeneron Pharmaceuticals, Inc. (REGN) report its next earnings?
Regeneron Pharmaceuticals, Inc. is expected to report its next earnings on approximately 2026-07-30. Consensus expects EPS of $10.85 and revenue of $3.8B. Over recent quarters, REGN has beaten EPS estimates 83% of the time.
07How much free cash flow does Regeneron Pharmaceuticals, Inc. generate?
Regeneron Pharmaceuticals, Inc. (REGN) generated $4.2B in free cash flow over the trailing twelve months — a free cash flow margin of 27.9%. REGN returns capital to shareholders through dividends (0.6% yield) and share repurchases ($4.0B TTM).