Regeneron Pharmaceuticals (REGN) Stock Forecast & Price Target

Regeneron Pharmaceuticals is viewed positively because its core franchises are still expanding: Eylea HD is gaining share after approvals for Q4W dosing and RVO, while Dupixent continues to dominate across AD, asthma, CRSwNP, EoE, PN, COPD, CSU, and BP. The company’s mix shift toward higher-dose Eylea HD, plus stronger expected Sanofi collaboration profit share in H2:26, supports higher profitability even as U.S. Eylea 2mg faces competitive pressure and Good Days closure effects throughout 2025. Investors also appear to be underestimating the value of the pipeline and partnership optionality, including cemdi in gMG in November and assets such as fianlimab, GA, obesity, and allergy programs, which could broaden long-term growth.

Regeneron Pharmaceuticals is facing a negative setup because the Eylea franchise is vulnerable to biosimilar erosion and new entrants, while Dupixent still carries meaningful life-cycle and loss-of-exclusivity uncertainty that could compress growth. The recent fianlimab phase III miss in 1L metastatic melanoma, along with prior setbacks such as itepekimab failure, reduces confidence in the R&D engine and narrows the near-term pipeline catalysts that investors were counting on. With shares likely pressured by Eylea headwinds, Dupixent uncertainty, and no imminent large external business development or multi-billion-dollar pipeline win, the stock may continue to trade at a discount despite longer-term prospects.