On July 30, Regeneron Pharmaceuticals rose 3.19% in regular trading, trading at $705.8/share, with turnover of $240 million. The rally was driven by the company's Q2 earnings report released pre-market, which significantly exceeded Wall Street expectations.

Regeneron reported Q2 adjusted earnings of $14.29 per diluted share, beating the analyst consensus estimate of $10.26 by 39.28% and representing a 10.86% increase over $12.89 in the year-ago period. Revenue came in at $4.29 billion, well above the $3.82 billion expected and up from $3.68 billion a year earlier. Notably, the company had previously disclosed in an SEC filing that it expected Q2 GAAP and non-GAAP diluted EPS to decline by approximately $1, making the actual blowout results an even greater positive surprise for investors.

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