Regeneron Pharmaceuticals (REGN) is a biopharmaceutical company focused on the discovery, development and commercialization of products for the treatment of serious medical conditions. The Tarrytown, NY based company has four FDA approved products – Arcalyst, Eylea, Praluent and Zaltrap in its portfolio.
Regeneron is most well-known for its eye drug Eylea, which performed well during the quarter. Regeneron received a major boost when its PCSK9 inhibitor, Praluent for the treatment of high LDL cholesterol in adults gained approval in the U.S. The cholesterol management market represents huge commercial potential and Praluent is expected to generate blockbuster sales.
The company has recorded positive earnings surprises in one of the trailing four quarters with an average miss of 11.84%.
Currently, Regeneron has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Regeneron beat on earnings by a wide margin. Our consensus called for EPS of $1.81, and the company reported EPS of $2.12 (these figures include stock-based compensation expense).
Revenue: Revenues also surpassed expectations. Regeneron posted revenues of $998.6 million, compared to our consensus estimate of $891 million.
Key Stats: Regeneron has beaten our estimates benefiting from strong Eylea sales. Regeneron now expects Eylea revenues to grow 45% – 50% over 2014 figure as compared to previous guidance of 30% – 35%.
Check back later for our full write up on this Regeneron earnings report later!
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