Baird has raised its price objective on Regeneron Pharmaceuticals (REGN) to $742.00 from $630.00, but the research firm stopped short of upgrading its recommendation, keeping a Neutral rating on the shares. The new target sits in close proximity to the stock’s most recent quoted level of $743.02.
The price-target increase follows Regeneron’s fourth-quarter 2025 earnings release, which beat analyst projections on both the top and bottom lines. According to available data, seven sell-side analysts have recently lifted their earnings estimates for the upcoming reporting period, indicating growing confidence in the company’s near-term financial trajectory.
Baird’s note singled out Eylea HD as a standout performer in the quarter and emphasized that a prefilled syringe PDUFA related to the PFS formulation remains on schedule. The firm also pointed to ongoing strength from Dupixent as a contributor to the company’s results.
Looking further ahead, Baird identified several development and regulatory milestones that could serve as catalysts in 2026. These include clinical progress for a fianlimab and Libtayo combination therapy in melanoma and forthcoming data for Regeneron’s C5 franchise addressing geographic atrophy and paroxysmal nocturnal hemoglobinuria (PNH). The research note also states that Regeneron plans to initiate Phase 3 programs across multiple therapeutic areas, specifically metabolic, cardiovascular and bleeding disorders.
Other broker updates have tracked the mixed picture emerging from Regeneron’s quarterly preannouncement and subsequent disclosures. Management’s prerelease indicated a divergence within the Eylea family: Eylea 2mg revenue came in at $577 million versus $600 million that had been anticipated, while Eylea HD outperformed expectations with $506 million versus a $454 million consensus.
Those intra-franchise results have prompted a range of analyst reactions. Bernstein raised its price target to $916, citing a constructive view of Eylea HD despite a deceleration in its growth rate. Evercore ISI lifted its target to $875 and highlighted upside tied to Dupixent and an upcoming Eylea HD prefilled syringe launch. BofA Securities reiterated a Buy rating with an $860 target, referencing the recent financial disclosures and the company’s 2026 R&D guidance.
At the same time, some firms expressed caution. Raymond James adjusted its target to $820 while noting mixed outcomes across the Eylea franchise, and RBC Capital kept a $745 target, pointing to potential competitive dynamics in 2026. Collectively, these updates illustrate a balance of optimism about key growth drivers and concern about franchise-specific headwinds.
Sector and market context: The analyst activity and the company’s trial and regulatory pipeline are most relevant to the pharmaceutical and biotechnology sectors, as well as health-care equity investors tracking product-cycle and regulatory catalysts.