{"id":119722,"date":"2026-08-24T12:30:08","date_gmt":"2026-08-24T12:30:08","guid":{"rendered":"https:\/\/www.europesays.com\/ch\/119722\/"},"modified":"2026-08-24T12:30:08","modified_gmt":"2026-08-24T12:30:08","slug":"regn-soars-28-9-in-six-months-is-there-more-upside-potential-in-2026","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ch\/119722\/","title":{"rendered":"REGN Soars 28.9% in Six Months: Is There More Upside Potential in 2026?"},"content":{"rendered":"

The going has been strong for Regeneron PharmaceuticalsREGN<\/a> over the past six months. Shares of this biotech giant have surged 31.5% in this time frame, outpacing the industry<\/a>\u2019s growth of 13.5%. The stock has also outperformed the sector and the S&P 500 Index during this time.<\/p>\n

REGN\u2019s robust rally has been driven by a series of positive pipeline and regulatory developments and better-than-expected quarterly results, which have improved investor sentiment.<\/p>\n

REGN Outperforms Industry, Sector and S&P 500 Index<\/p>\n

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Image Source: Zacks Investment Research<\/p>\n

Against this backdrop, a closer evaluation of the company\u2019s strengths and weaknesses can help assess its attractiveness as an investment opportunity.<\/p>\n

REGN\u2019s Eylea HD Gains Traction as Eylea Sales Decline<\/p>\n

While lead drug Eylea continues to face headwinds, Eylea HD is gaining traction, supported by steady label expansions.<\/p>\n

Eylea, an anti-VEGF therapy approved across multiple ophthalmology indications, remains Regeneron\u2019s largest revenue contributor. Declining franchise sales continue to pressure the company\u2019s overall revenues.\u00a0<\/p>\n

Competitive pressure has intensified, particularly from Roche\u2019s RHHBY<\/a> Vabysmo, which targets both angiopoietin-2 (Ang-2) and VEGF-A pathways and has gained meaningful traction in the retinal disease market.<\/p>\n

RHHBY\u2019s Vabysmo\u2019s sales grew 12% to CHF 4.1 billion in 2025 on strong demand across all regions.<\/p>\n

To defend market share, Regeneron introduced Eylea HD, a higher-dose formulation designed to improve durability and extend dosing intervals.<\/p>\n

Eylea HD sales rose 36% in 2025 to $1.6 billion in the United States.<\/p>\n

In November 2025, the FDA approved Eylea HD for the treatment of macular edema following retinal vein occlusion (RVO), with dosing of up to once every eight weeks after an initial monthly dosing phase. The FDA also approved a monthly dosing option for certain patients who may benefit from resuming this dosing schedule across all currently approved indications, including wet age-related macular degeneration, diabetic macular edema, diabetic retinopathy and RVO.<\/p>\n

Eylea and Eylea HD were co-developed with Bayer BAYRY<\/a>.<\/p>\n

Regeneron records net product sales in the United States, while Bayer records sales outside the country.<\/p>\n

Regeneron expects a further decline in Eylea sales in 2026. The anticipated erosion is likely to accelerate in the second half of the year as multiple biosimilar versions enter the U.S. market.<\/p>\n

Strong Dupixent Sales Fuel REGN Profits<\/p>\n

REGN\u2019s top line also comprises its share of profits\/losses in connection with the global sales of Dupixent. Partner Sanofi SNY<\/a> records global net product sales of Dupixent.<\/p>\n

Strong demand across approved indications \u2014 including atopic dermatitis, asthma, chronic rhinosinusitis with nasal polyposis and eosinophilic esophagitis \u2014 continues to drive robust growth. Ongoing label expansions for Dupixent remain a key contributor to revenue visibility and profitability.<\/p>\n

Last month, the European Medicines Agency\u2019s Committee for Medicinal Products for Human Use (CHMP) backed approval of Dupixent (dupilumab) in the EU for children aged 2\u201311 with moderate-to-severe chronic spontaneous urticaria who have an inadequate response to antihistamines and are IgE therapy-na\u00efve. A final decision is expected soon.<\/p>\n

The FDA recently approved Dupixent for patients aged six and older with allergic fungal rhinosinusitis (AFRS) who have undergone sino-nasal surgery. The approval expands Dupixent\u2019s sino-nasal indications to include AFRS alongside chronic rhinosinusitis with nasal polyps.<\/p>\n

Regeneron Expands and Strengthens Its Oncology Portfolio<\/p>\n

Regeneron\u2019s oncology franchise is anchored by its PD-1 inhibitor Libtayo (cemiplimab-rwlc), which is approved for use in certain patients with advanced basal cell carcinoma (BCC), advanced cutaneous squamous cell carcinoma (CSCC) and advanced non-small cell lung cancer (NSCLC).<\/p>\n

Libtayo delivered a solid performance in 2025, generating $1.4 billion in sales, which reflects a 19% year-over-year increase. Regeneron records global net product sales of Libtayo and pays royalties to partner Sanofi on these sales.<\/p>\n

The oncology portfolio received an additional boost with the FDA\u2019s accelerated approval of linvoseltamab-gcpt for the treatment of relapsed or refractory multiple myeloma under the brand name Lynozyfic. The drug is also approved in the European Union for adults with relapsed or refractory multiple myeloma who have received at least three prior lines of therapy, including a proteasome inhibitor, an immunomodulatory agent and an anti-CD38 monoclonal antibody.<\/p>\n

Further strengthening the franchise, the EC approved Ordspono (odronextamab) for the treatment of adult patients with relapsed or refractory follicular lymphoma or diffuse large B-cell lymphoma following two or more lines of systemic therapy.
Regeneron also has a deep pipeline of promising candidates, and additional drug approvals are expected to support the top line.<\/p>\n

REGN: Valuation & Estimates<\/p>\n

Going by the price\/earnings ratio, REGN seems failry priced at this moment. Shares currently trade at 16.39X forward earnings, lower than its mean of 19.42X and the large-cap pharma industry\u2019s value of 16.75X.<\/p>\n

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Image Source: Zacks Investment Research<\/p>\n

The bottom-line estimate for 2026 has moved north over the past 60 days and the same for 2027 has increased $2.22.<\/p>\n

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Image Source: Zacks Investment Research<\/p>\n

Stay Invested in Regeneron<\/p>\n

REGN is one of the largest biotechs in the sector that are considered safe havens for investors interested in this sector.<\/p>\n

Progress across its oncology portfolio should support greater diversification of revenues and reduce reliance on any single franchise.<\/p>\n

Ongoing label expansions for Dupixent continue to drive strong sales growth and contribute meaningfully to profitability. At the same time, the launch of Eylea HD is helping Regeneron mitigate the impact of declining sales of the Eylea amid rising competition.<\/p>\n

While the recent pipeline momentum and favorable regulatory developments have improved the outlook, declining Eylea sales are a major headwind. Given that Eylea contributes a substantial portion of Regeneron\u2019s overall sales, the competitive impact has weighed on the company\u2019s top-line performance.<\/p>\n

Hence, we advise prospective investors to wait and observe for a while before turning positive. Investors already holding the stock may find it prudent to stay invested.<\/p>\n

REGN currently carries a Zacks Rank #3 (Hold). You can see the complete list of today\u2019s Zacks #1 Rank (Strong Buy) stocks here<\/a>.<\/p>\n

\u00a0<\/p>\n

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\u00a0
Regeneron Pharmaceuticals, Inc. (REGN): Free Stock Analysis Report<\/a>
\u00a0
Sanofi (SNY): Free Stock Analysis Report<\/a>
\u00a0
Roche Holding AG (RHHBY): Free Stock Analysis Report<\/a>
\u00a0
Bayer Aktiengesellschaft (BAYRY): Free Stock Analysis Report<\/a><\/p>\n

This article originally published on Zacks Investment Research (zacks.com).<\/a><\/p>\n

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