Regeneron Pharmaceuticals Inc (NASDAQ: REGN) is having an incredibly strong start in the pre-market hours this morning, and for good reason. The company reported earnings, blowing away analyst expectations and exciting investors. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (7:46), REGN is trading at $499.50 per share after a gain of $18.68 per share or 3.92% thus far today.
REGN Gains On Strong Earnings
As mentioned above, Regeneron Pharmaceuticals is having a great time in the pre-market this morning after reporting its earnings for the second quarter. Here’s what we saw from the report…
- Earnings Per Share – In terms of earnings per share, REGN did overwhelmingly well. During the quarter, analysts expected that the company would generate earnings in the amount of $3.13 per share. However, the company actually reported earnings in the amount of $4.17 per share.
- Revenue – Revenue also proved to be positive. During the second quarter, analysts expected that the company would generate revenue in the amount of $1.35 billion. However, the company actually generated revenue in the amount of $1.47 billion, once again, beating expectations.
- EYLEA Estimates – Finally, REGN announced that it has increased its guidance with regard to 2017 EYLEA U.S. net sales. The company is now expecting growth to be 10% year over year for 2017.
In a statement, Leonard S. Schleifer, M.D., Ph.D., President and CEO at REGN, had the following to offer…
“In the first half of 2017, we continued to bring our market-leading therapy EYLEA to more patients with retinal diseases, resulting in strong global sales. We also markedly expanded our positive impact on patient lives with two important new product launches for serious diseases, Dupixent for moderate-to-severe atopic dermatitis and Kevzara for moderately to severely active arthritis… The Dupixent U.S. launch in moderate-to-severe atopic dermatitis is proceeding well, with a very positive reception in the physician and patient community and strong commercial execution. In the second half of the year, we anticipate EU approval for Dupixent in atopic dermatitis, as well as Phase 3 study results and a potential U.S. regulatory submission for Dupixent in uncontrolled asthma.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA finance team will be keeping a close eye on REGN. In particular, we’re interested in following growth in EYLEA as well as the commercialization of Dupixent and Kevara. We’ll also be keeping an eye on the clinical program at Regeneron. Nonetheless, we’ll continue to follow the story and bring the news to you as it breaks!
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