On August 1, Regeneron Pharmaceuticals rose 3.09% in regular trading, trading at approximately $761.18 per share, with turnover of $5.49 billion. The stock continued its upward momentum following a blowout second-quarter earnings report released earlier in the week.

The company reported Q2 adjusted earnings of $14.29 per diluted share, surpassing the analyst consensus estimate of $10.26 by 39.28%, and up from $12.89 a year earlier. Revenue reached $4.291 billion, significantly above the $3.816 billion expected, representing 17% year-over-year growth. Notably, the company had previously filed an SEC disclosure warning that Q2 EPS would decrease by approximately $1, making the actual outperformance even more striking.

Following the results, multiple brokerages adjusted their price targets upward. Morgan Stanley raised its target to $758 from $730, maintaining an Equalweight rating, while RBC Capital Markets lifted its target to $737 from $696, citing robust sales from key products and limited spending increases expected to help ramp second-half margins. Analysts also highlighted decent uptake of Eylea HD for retinal conditions as a clear positive. The average analyst price target stands at $837 with an overweight consensus rating.

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