Bank of America Securities analysts shifted Regeneron from Underperform to Buy, citing a combination of robust pipeline momentum and stronger-than-expected franchise performance. The research team raised its 12-month price target by nearly 40%, reflecting an upward revision to sales forecasts for flagship products. The upgrade follows three consecutive quarters of revenue beats and aligns with management’s guidance for sustained mid-teens percentage growth across core assets.

Analysts increased their 2026 sales estimate for Eylea HD by over 10% and boosted Dupixent forecasts by close to 15%, after recent market-share gains in ophthalmology and dermatology indications. Upcoming catalysts include a Phase 3 readout for fianlimab in melanoma in the first half of next year and expected label expansions for Dupixent in additional atopic and respiratory indications. These developments, combined with a healthy balance sheet and reinvestment potential, underpin the bullish thesis and have sent the stock to fresh multi-month highs.