Why Regeneron Pharmaceuticals Stock Is Tanking Today
Regeneron Pharmaceuticals (NASDAQ: REGN), a large-cap biotechnology company, is under heavy pressure today. Specifically, the biotech's stock was down by an unsightly 6.5% on heavy volume as of 12:19 p.m. ET Thursday afternoon.
Regeneron's shares are moving southward in response to lower-than-expected sales of its flagship eye-care treatment, Eylea, during the first quarter of 2023. Eylea is indicated for serious eye conditions such as age-related macular degeneration (AMD) and diabetic macular edema (DME).
In the first quarter, Regeneron reported a 6% dip in year-over-year U.S. sales for the eye-care drug, reflecting increasing competition from newer rivals like Roche's Vabysmo.
Source Fool.com
Regeneron Pharmaceuticals Inc. Stock
€631.90
-0.190%
The stock is one of the favorites of our community with 44 Buy predictions and 1 Sell predictions.
With a target price of 703 € there is a slightly positive potential of 11.25% for Regeneron Pharmaceuticals Inc. compared to the current price of 631.9 €.
