Regeneron upgraded to Outperform from Market Perform at Leerink

Leerink upgraded Regeneron (REGN) to Outperform from Market Perform with a price target of $834, up from $762. The shares have fallen 35% over the past six months, creating an opportunity to capitalize on weakness following a stepdown in Eylea franchise expectations, the analyst tells investors in a research note. The firm believes Regeneron’s financial growth will accelerate in 2026, its pipeline will advance, and the stock’s multiple will expand. Although the company’s 2025 year-over-year growth is constrained by Eylea franchise pressures, there should be a “material acceleration” through 2030, which investors underappreciate, contends Leerink.