By Elsa Ohlen

Regeneron Pharmaceuticals stock fell sharply after the company's latest earnings came in below Wall Street's expectations Tuesday.

First-quarter adjusted earnings per share were $8.22 on revenue of $3 billion, missing analysts' expectations of EPS of $8.62 on revenue of $3.2 billion, according to FactSet.

Shares fell 9.4% to $553.73 in early trading.

"The magnitude of the miss was clearly greater than expected," Cantor Fitzgerald analyst Carter Gould said. However, he noted the miss was partially offset by sales of its high-dose eye drug Eylea coming in better than some had feared. Sales of the medicine were $307 million in the quarter; the expectation was $328 million.

Total Eylea sales fell 26% compared with a year ago -- to $1.04 billion.

The company reiterated its earnings guidance for this year but lowered its margin expectations on net product sales and capital expenditure slightly.

Write to Elsa Ohlen at elsa.ohlen@barrons.com

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April 29, 2025 10:29 ET (14:29 GMT)

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