Biotech company Regeneron (NASDAQ: REGN) will be announcing earnings results tomorrow before market hours. Here’s what investors should know.
Regeneron beat analysts’ revenue expectations last quarter, reporting revenues of $4.29 billion, up 16.7% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates.
Is Regeneron a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Regeneron’s revenue to grow 22.6% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Regeneron rarely misses Wall Street’s revenue estimates.
Looking at Regeneron’s peers in the biotechnology segment, only Biogen has reported results so far. It exceeded analysts’ revenue estimates, delivering year-on-year sales growth of 10.6%.
Read our full analysis of Biogen’s earnings results here.There has been positive sentiment among investors in the biotechnology segment, with share prices up 6.1% on average over the last month. Regeneron is up 8% during the same time and is heading into earnings with an average analyst price target of $869.07 (compared to the current share price of $818.46).
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