TRAI — Research — REGN: Regeneron Pharmaceuticals

← Research · knowledge/companies/REGN.md

REGN: Regeneron Pharmaceuticals

_Last updated 2026-11-02 11:00 ET from report. Screening/research, not investment advice._

Business

Biotech: Dupixent (with Sanofi), Eylea/Eylea HD, Libtayo. TRAI cluster 46. Top ρ: PFE 0.54, VRTX 0.53, AMGN 0.51.

Catalysts, guidance & news

Q3 2026: Fri 2026-10-30 BMO, call 8:30. Consensus EPS $16.06, revenue $4.54B.
Q2 Dupixent was $6.0B (+38%). Eylea HD share in neovascular AMD fell from 18.9% to 16.1%. Cemdisiran PDUFA due in November.
Source: Investing.com, 2026-10-29.

TRAI data

After hours 10-29: +0.47%. Last 4 prints: avg |gap| 2.43%, fill 50%.

Linkages

See Business line (TRAI /api/correlations 60d to 2026-10-22, stale).

2026-10-30 09:00 update

Q3 2026 (Fri 10-30 BMO): revenue $5.116B (+36%) vs $4.54B; non-GAAP EPS $20.07 vs $16.06. Sanofi collaboration revenue $2.724B (+68%) after the Development Balance was repaid; Eylea US $400M (−41%), Eylea HD US $699M (+62%); Libtayo $550M (+51%). Expanded Sanofi deal: $1.0B upfront booked in Q4, up to $7.0B milestones (Regeneron IR, 2026-10-30; Investing.com, 2026-10-30).
Premarket +7.28% (09:10) / +6.87% (09:17) vs TRAI avg |gap| 2.43%, continuation 75%. REGN–GILD ρ 0.37.

Report links

2026-11-02 11:00 update

10-30 close: $927.89 (+13.33%), ~2.9M shares (~4× average), 52-week high $935.35. FY26 adjusted product gross-margin guide raised to ~86% from 84–85% (IBTimes AU; secondary). TRAI: residualZ 8.38, relVol 4.54, earnings-reaction LM pick (S-100).
Day 2 (11:15 ET, Yahoo, unofficial): flat gap, then +3.71% open→now ($961.64; high $972.06), above Friday's 52-week high, vs XBI −2.44% and IBB −1.54%.
Price-target raises Sun night/Mon AM:
Guggenheim $1,030→1,100 (Investing.com)
BofA $908→1,030 (Investing.com)
Cantor $795→980 (Investing.com)
Wells Fargo $750→925 (Investing.com)
Headlines only: RBC $913, Truist $982, Canaccord $1,175
EDGAR: three Form 144s filed 10-30 at 4:14–4:21 PM ET: directors M. S. Brown (1,929 sh, ~$1.58M, option exercise) and K. Guarini (400 sh, $0.36M), officer M. McCourt (1,132 sh, ~$0.98M, RSA vesting). About $2.9M in total, which is routine.
Sanofi Sixth Amendment (signed 10-01, 8-K 10-06): four new long-acting antibodies (IL-13, IL-4, IL-4Rα, IL-4×IL-13), $1.0B upfront booked as Q4 collaboration revenue, up to $7.0B in milestones, 50/50 profits, an option on lunsekimig, and the Dupixent info-access lawsuit dismissed. It was disclosed before the print, so it is not a 10-30 surprise. Q3 GAAP EPS $18.45, non-GAAP $20.07 (8-K ex. 99.1).
Next:
peer prints: VRTX 11-02 AMC (ρ 0.61), PFE 11-03 BMO (0.60), AMGN 11-03 AMC (0.48)
cemdisiran PDUFA "November" (company; 11-30 per third-party calendars only; Regeneron IR)
EYLEA HD prefilled syringe hoped for by year end (CEO)
Q4 ~2027-01-28 (TRAI estimate)
Linkages (60d to 10-30): singleton cluster 50. Top ρ: VRTX 0.61, PFE 0.60, LLY 0.53, GILD 0.52, MRK/AMGN 0.48. Updates the stale 10-22 line above.
2026-11-02 11:00 report

2026-11-02 16:00 update

Closed +3.60% at VWAP (961.26). Tue BMO PFE (ρ 0.60; implied ±5.2% vs TRAI 1.78%, S-128 fires). The VRTX AMC link (ρ 0.61) is flat AH. Suggest waiting for the PFE 10:00 call before an entry.
Report

2026-11-02 17:00 update

Sole LM name in the 11-02 post-close run (+3.60%, relVol 2.22, range pos 0.73, close vs VWAP +0.2%). Overnight links: PFE BMO (ρ 0.60; PFE +1.57% AH, no news found) and VRTX AH +1.24% (ρ 0.61). Both are below 0.7. Rule carried from 16:00: no entry before PFE's 10:00 call is under way.
Report

2026-11-06 15:00 update — singleton under Healthcare ×5 SM flag

Thu Yahoo close −2.98% (902.90); Fri ~15:09 ~909.47 / ~+0.73%. SM Healthcare ×5 residual (suspended) on 8:58 run despite correlations cluster 38 singleton (asOf 11-05).
Thu crush: no verified company-specific 8-K; Eylea HD competition narrative is older Q3-call context (Trefis 11-05) [S] — not new Thu news.
Feeds S-149 (do not lump REGN singleton with cluster-5 residual book). Next print ~2027-01-28 est.
Source: 2026-11-06 15:00 healthcare split.