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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Regeneron Pharmaceuticals    REGN

REGENERON PHARMACEUTICALS

(REGN)
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Regeneron 2Q Profit Surges on Collaborations

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08/05/2020 | 07:16am EDT

By Dieter Holger

 

Regeneron Pharmaceuticals Inc. profit surged above Wall Street's expectations in the latest quarter on the back of collaborations with other pharmaceutical giants.

The Tarrytown, N.Y.-based drugmaker posted earnings of $897.3 million, or $7.61 a share, in the second quarter, compared with $193.1 million, or $1.68 a share, a year ago.

Earnings came in above the $5.91 a share analysts polled by FactSet had expected.

Sales were $1.95 billion in the quarter, up from $1.58 billion a year prior. Analysts had expected lower sales of $1.73 billion.

Regeneron said sales from its collaborations with drugmakers Bayer AG and Sanofi rose to $513 million in the quarter, up 45% from $353 million in the previous year.

But sales of its age-related macular degeneration eye drug Eylea were negatively affected by the pandemic, falling 3.9% to $1.1 billion compared with $1.2 billion last year.

Regeneron's stock has skryocketed this year in large part thanks to excitement around its antibody cocktail that treats Covid-19, which entered phase 3 trials in early July.

The company also has courted controversy. The U.S. Department of Justice sued Regeneron in late June, alleging that it paid off a foundation to help Medicare patients buy its eye drug Eylea, which costs more than $10,000 a year and drew sales of $4.6 billion in 2019. Regeneron has said the lawsuit is without merit.

 

Write to Dieter Holger at dieter.holger@wsj.com; @dieterholger

 

Stocks mentioned in the article
ChangeLast1st jan.
BAYER AG -1.29% 53.51 Delayed Quote.-26.51%
REGENERON PHARMACEUTICALS 0.30% 573.61 Delayed Quote.52.77%
SANOFI -1.31% 86.18 Real-time Quote.-3.84%
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Financials (USD)
Sales 2020 8 400 M - -
Net income 2020 2 993 M - -
Net cash 2020 4 572 M - -
P/E ratio 2020 20,6x
Yield 2020 -
Capitalization 60 361 M 60 361 M -
EV / Sales 2020 6,64x
EV / Sales 2021 5,40x
Nbr of Employees 8 142
Free-Float 83,3%
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Technical analysis trends REGENERON PHARMACEUTICALS
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 668,04 $
Last Close Price 573,61 $
Spread / Highest target 39,5%
Spread / Average Target 16,5%
Spread / Lowest Target -12,8%
EPS Revisions
Managers
NameTitle
Leonard S. Schleifer Co-President, Chief Executive Officer & Director
George Damis Yancopoulos Co-President, Director & Chief Scientific Officer
P. Roy Vagelos Chairman
Robert E. Landry Chief Financial Officer & Executive VP-Finance
Neil Stahl Executive VP-Research & Development
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