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Regeneron Pharmaceuticals Inc REGN Stock Quote

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NASDAQ:REGN

Morningstar‘s Stock Analysis REGN

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Is it the right time to buy or sell?

1-Star Price

INVESTOR

5-Star Price

INVESTOR

Economic Moat

INVESTOR

Capital Allocation

INVESTOR

Maintaining Our $690 FVE for Regeneron Following Solid Q3; Oncology Data Is Building

Karen Andersen, CFA Sector Strategist

Analyst Note

| Karen Andersen, CFA |

Regeneron’s third-quarter revenue declined 15% year over year as sales of its COVID-19 antibody cocktail dried up. However, we’re maintaining our $690 fair value estimate for Regeneron as the fundamental business remains solid. Excluding the COVID-19 antibody cocktail, revenue grew 11%, driven by a 22% increase in Sanofi collaboration revenue (largely due to strong sales of immunology drug Dupixent) and 11% growth for U.S. sales of ophthalmology drug Eylea, despite a 9% decline in profit share from Bayer for international Eylea sales. While Regeneron gave preliminary 2023 operating expense guidance that was significantly above our prior projections, this is balanced in our model by pipeline progress and our decision to model potential revenue from the Intellia gene editing collaboration. We think Regeneron’s narrow moat is increasingly well-supported, with positive data in oncology pushing the firm closer to a wide moat.

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Key Statistics REGN

Company Profile REGN

Business Description

Regeneron Pharmaceuticals discovers, develops, and commercializes products that fight eye disease, cardiovascular disease, cancer, and inflammation. The company has several marketed products, including Eylea, approved for wet age-related macular degeneration and other eye diseases; Praluent for LDL cholesterol lowering; Dupixent in immunology; Libtayo in oncology; and Kevzara in rheumatoid arthritis. Regeneron is also developing monoclonal and bispecific antibodies with Sanofi, other collaborators, and independently, and has earlier-stage partnerships that bring new technology to the pipeline, including RNAi (Alnylam) and CRISPR-based gene editing (Intellia).

Contact
777 Old Saw Mill River Road
Tarrytown, NY, 10591-6707
T +1 914 847-7000
Industry Biotechnology
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 10,368

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