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Jan 7, 2026 4:30 PM

Regeneron Just Moved From Underperform To Buy - Here's Why

Could the tide be turning for Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) after a surprising shift in analyst sentiment?

As investors digest the latest upgrade, what factors are driving this newfound optimism for the biotech giant?

Bank of America (BofA) Securities on Wednesday upgraded Regeneron Pharmaceuticals, citing several factors, including higher sales for key products.

Analyst Tazeen Ahmad upgraded Regeneron from Underperform to Buy, and raised the price forecast from $627 to $860.

BofA's prior Underperform thesis on Eylea SD has primarily played out, with consensus estimates moving lower. Analyst Ahmad is increasingly constructive on Eylea HD, given multiple label expansions, and forecasts now sit meaningfully above consensus.

BofA is more positive on Eylea HD in light of the recent label updates and expected prefilled syringe approval mid-2026.

The ...