Key Highlights

  • REGN stock is up 14.21% today at $935.14
  • Third-quarter Revenue grew 36% to $5.1 billion
  • Non-GAAP diluted EPS reached $20.07, a 70% increase
  • U.S. EYLEA HD net sales rose 62% to $699 million
  • Sanofi's $1.0 billion upfront payment covers four long-acting antibodies

Double-Digit Revenue and Per-Share Profit Gains Power the Rally

Regeneron Pharmaceuticals (NASDAQ:REGN) shares are up 14.21% at $935.14 today, following the release of its third-quarter 2026 results. Revenue for the period reached $5.1 billion, a 36% gain, and the company has now posted double-digit growth in both revenue and non-GAAP Earnings Per Share for three straight quarters.

GAAP Diluted Earnings per Share were $18.45, a 35% rise, while non-GAAP diluted EPS of $20.07 represented a 70% gain. GAAP Net Income increased 33% to $1.95 billion. Collaboration revenue from Sanofi (NASDAQ:SNY) jumped 68%, aided by a bigger profit share on antibody sales and the complete repayment of the Sanofi development balance.

EYLEA HD Climbs 62% While the Full EYLEA Franchise Holds Steady

U.S. net sales of EYLEA HD increased 62% to $699 million, driven by Volume growth that was partly offset by lower net prices. Across the whole U.S. EYLEA franchise, sales held at $1.1 billion, since the decline in original EYLEA canceled out the HD gains.

Dupixent global net sales, which Sanofi records, grew 35% to $6.5 billion. Libtayo global net sales rose 51% to $550 million, with U.S. sales up 81%. Japan has approved Libtayo for cutaneous squamous cell carcinoma, and a U.S. regulatory decision on the drug is due in March 2027.

Sanofi's $1.0 Billion Upfront Deal and a Busy Pipeline Calendar

Sanofi is paying Regeneron $1.0 billion upfront for four next-generation long-acting antibodies, and that sum will be recognized as collaboration revenue in the fourth quarter of 2026. The deal allows for up to $7.0 billion in further milestones, with development costs and profits split equally.

On the pipeline, the FDA approved Pasatru (garetosmab) in August 2026 for fibrodysplasia ossificans progressiva. The agency also accepted a resubmission for Ordspono (odronextamab) in relapsed or refractory DLBCL, with a target date in February 2027, and an FDA decision on cemdisiran for generalized myasthenia gravis is expected next month.

An RNAi therapy aimed at CIDEB reduced liver fat by about 70% on average at 12 weeks in early data, and a Phase 3 start is planned for the fourth quarter. Fuller results will be shown at a medical meeting in November, the same month Phase 2 data for baloncibart in POTS are due.

Cash Generation, Buybacks and Revised Spending Targets

Cash and marketable securities totaled about $18.9 billion at September 30, 2026, roughly flat against year-end 2025, and free Cash Flow reached $2.9 billion over the first nine months. Regeneron bought back $2.3 billion of stock in that stretch, leaving $2.2 billion authorized, and declared a $0.94 quarterly Dividend payable December 3.

A fresh deal will Supply Inmazeb to the U.S. government for Ebola preparedness from 2027 through 2031. Regeneron lifted its 2026 GAAP Research and Development guidance to $6.600 billion to $6.735 billion, while trimming GAAP selling and administrative guidance to $2.730 billion to $2.860 billion.

Market data dated October 27, before this move, puts market Capitalization near $81.2 billion, with a P/E ratio of about 20.1 and a 52-week range of $575.93 to $859.34. Based on those figures, today's price sits above the quoted high. The average analyst price target was roughly $867.33, and the next catalysts are the cemdisiran decision and November data presentations.