New York, Jan 7, 2026, 20:51 EST — Market closed
- Regeneron shares rose about 4.6% in Wednesday’s session.
- Bank of America upgraded the stock to “Buy” and lifted its price objective to $860.
- Focus is shifting to Eylea HD uptake, policy risk, and late-January results.
Regeneron Pharmaceuticals shares climbed 4.6% on Wednesday after Bank of America upgraded the drugmaker to “Buy” from “Underperform” and raised its price objective to $860. 1
The call matters because Regeneron’s stock has been stuck in a tug-of-war: investors want proof the company can defend its eye-medicine franchise as rivals and copycat versions crowd the field, while newer products and pipeline shots sit further out. BofA wrote that earlier worries around the standard-dose version of Eylea have been priced in, and it is now leaning on a faster shift to Eylea HD, the higher-dose formulation. 2
Regeneron has also lagged the broader market over the past year, which leaves it exposed to any change in expectations around the next leg of growth. BofA’s upgrade leaned on a 2026 calendar that includes potential trial data and a policy decision that could remove what it sees as an overhang tied to “most-favored-nation” drug pricing — a proposal that would peg some U.S. drug prices to lower prices abroad. 3
The next nearer-term test comes on Jan. 30, when Regeneron is due to report fourth-quarter and full-year 2025 results before U.S. markets open and hold a conference call at 8:30 a.m. Eastern. 4
Regeneron’s growth has been anchored by Dupixent, an eczema and asthma drug it markets with Sanofi, and by its Eylea eye franchise. Eylea has faced heavier competition, including Roche’s Vabysmo, and the rollout of Eylea HD has been complicated by regulatory and manufacturing setbacks around a pre-filled syringe, Reuters has reported. 5
But the upgrade trade can fade fast. If Eylea HD does not pull patients over as quickly as bulls expect — or if another manufacturing snag hits the pre-filled syringe — the market may slide back to the old debate about erosion, not growth. Policy risk is still a wildcard, too, and investors have little patience for surprises.
Technically, the stock finished near the top of Wednesday’s range, after trading between roughly $780 and $814 and opening around $786 — levels traders will watch for follow-through around $800 and the day’s high. 6
On the calendar, investors have a biotech-heavy stretch ahead, including Regeneron’s scheduled presentation at the J.P. Morgan Healthcare Conference on Jan. 12, and then the Jan. 30 earnings report and call. 7
