Price-target change and analyst stance
Bernstein SocGen Group has increased its price target on Regeneron Pharmaceuticals (NASDAQ:REGN) to $925.00 from $916.00, while keeping an Outperform recommendation on the stock. The firm pointed to what it called a "solid quarter" in the company’s recent earnings report and the follow-up discussions with management as the rationale for the adjustment.
Valuation and financial health
InvestingPro data cited alongside the note indicate the stock is currently trading below its Fair Value estimate; analyst targets referenced in those data range from $730 to $1,057. According to the same InvestingPro metrics, Regeneron carries a "GREAT" overall financial health score, supported by strong cash flow and profitability indicators.
Analyst outlook and investor sentiment
Bernstein acknowledged that some investors may view recent gains as having already captured the easiest upside, noting the stock’s move from roughly $500 to $750. Despite that sentiment, Bernstein said it sees "substantial upside" to its numbers this year.
Pipeline focus - LAG3 melanoma study
A central element of Bernstein’s bullish stance is the upcoming Phase 3 melanoma readout for Regeneron’s LAG3 inhibitor, which the firm said is expected by the end of the first half of 2026. Bernstein highlighted design features of the melanoma study, noting there is no enrollment floor or cap on PD-L1 expression. The firm also stated the study was powered assuming pembrolizumab would outperform results from the RELATIVITY-047 trial.
Clinical data and EYLEA HD
Regeneron said it will present new clinical data for its EYLEA HD product at the virtual Angiogenesis annual meeting. The material to be presented includes results from the Phase 3 QUASAR trial as well as the Phase 3b ELARA trial. Bernstein referenced a positive outlook for EYLEA HD, which reportedly experienced a 10% demand growth in the fourth quarter of 2025.
Other analyst moves following earnings
Following Regeneron’s fourth-quarter 2025 report, several other brokerages updated their targets. Baird raised its price target to $742 after the quarter beat analyst expectations for revenue and profit. Wells Fargo adjusted its target to $800, citing a favorable view of Dupixent and noting potential biosimilar competition has been delayed to 2033. RBC Capital left its price target unchanged at $745, stressing the competitive dynamics facing Regeneron in 2026. Separately, Bernstein is also noted as having previously increased a target to $916, reflecting a positive view on EYLEA HD.
Implications for investors
These updates underscore continued attention from investment firms on Regeneron’s near-term commercial performance and its development-stage catalysts, particularly the LAG3 melanoma readout and upcoming EYLEA HD data. Analysts’ varied targets reflect differing assessments of growth durability, competitive pressures and pipeline success.
Note: This article presents analyst targets and company disclosures reported by market research tools and brokerage notes following Regeneron’s most recent quarterly results.