Leerink upgrades this downbeat biotech, says investors should buy the dip

The sell-off in Regeneron Pharmaceuticals presents an opportunity for investors to buy the stock on the cheap, according to Leerink Partners. Analyst David Risinger upgraded shares to outperform. He also raised his price target to $834 from $762, implying around 19.6% upside potential from where shares closed on Tuesday. Shares have declined 35% over the last six months, while the NYSE Arca Pharmaceutical Index has dipped 6% in that time. REGN 6M mountain Regeneron shares over the last six months Sales of Eylea, Regeneron’s key medication used to treat several eye diseases, fell short of the consensus analyst forecast in the fourth quarter. Nonetheless, the company posted a revenue beat in the period and announced a $3 billion share repurchase program. Although growth in 2025 is pressured by headwinds with Eylea, revenue growth along eczema treatment Dupixent will help drive the stock higher, according to Risinger. “Our thesis is that REGN’s financial growth will accelerate in 2026, its pipeline will advance, and the P/E multiple will expand,” Risinger wrote in a note on Wednesday. The analyst added that Regeneron “has an has an extraordinary history and culture of innovation which appears undervalued mathematically.” Analysts are generally bullish on the stock. Of the 28 who cover it, 18 rate it a buy or strong buy, according to LSEG. The average analyst price target also signals upside of more than 37%.