RBC Capital reiterated a Sector Perform rating and held a $745.00 price target on Regeneron Pharmaceuticals (NASDAQ:REGN) in a research note published Tuesday. At the time of the note, the stock was trading at $762.65, modestly above RBC’s target. InvestingPro data cited within the note shows Regeneron at a price-to-earnings ratio of 18.38 and trading near its 52-week high of $821.11.
RBC singled out 2026 as potentially pivotal for Regeneron, describing it as "The Year of the Potential REGN Competitor." The firm noted that Regeneron has relatively few major, near-term readouts expected this year aside from fianlimab, but emphasized that multiple external data points from other companies could influence Regeneron’s long-term prospects.
Specifically, RBC said it will monitor competitive and commercial developments across the year that may affect the resilience of Regeneron’s flagship products, particularly Dupixent and Eylea. The research team indicated that such developments could shape both the company’s entrenched franchises and the promise of its pipeline programs.
In its view, RBC believes the current market valuation of Regeneron reasonably reflects a balance between the strength and market position of its core franchises and the upside from pipeline programs, weighed against the risk that competitors could make meaningful inroads over the coming years.
Other analyst activity and company announcements have recently put Regeneron in focus. Raymond James revised its outlook following Regeneron’s prerelease of fourth-quarter Eylea franchise revenues, noting that Eylea 2mg reported $577 million, which missed expectations, while Eylea HD delivered $506 million, which exceeded estimates.
Evercore ISI raised its price target for Regeneron to $875, pointing to Dupixent’s growth trajectory and the expected launch of a prefilled syringe for Eylea HD in 2026 as key drivers. BofA Securities maintained its Buy rating, setting a $860 price target after the company’s Eylea pre-announcement and its 2026 research and development guidance.
Leerink Partners increased its price target to $873, citing a projected 11% compound annual growth rate for Regeneron’s earnings per share between 2026 and 2031 as rationale for the move. Separately, Stifel commented on Regeneron’s disclosures at the JPM healthcare conference, which included plans to lengthen Dupixent dosing intervals and to advance new Th2-targeted programs.
Collectively, these analyst updates and company statements illustrate a range of views on Regeneron’s medium-term growth trajectory and the competitive landscape its core products will face. While some firms have raised targets and reiterated positive outlooks tied to product expansion and launch timing, RBC’s stance underscores the importance of monitoring external clinical and commercial readouts that could alter Regeneron’s competitive positioning.