REGENERON PHARMACEUTICALS, INC.
REGN · Pharmaceutical Preparations · 94.0M shares · -0%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $1.4B (gross $2.2B, SBC $885M)
Reference price $701.76 · est. market cap ~$65.9B — last insider sale, 2026-05-01 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A86Wide-moat, fully integrated biotech with top-decile returns, fortress balance sheet, and a deep validated pipeline.
Strengths
- Top-decile profitability: net margin 31.4% (90.5th), operating margin 24.9% (93rd), ROA 11.1% (93rd), OCF margin 34.7% (93rd)
- Fortress liquidity ($18.9B cash, 99.8th pct), low leverage (D/E 0.06), durable EYLEA HD/Dupixent franchises and ~45 clinical programs
Risks
- EYLEA faces intensifying anti-VEGF/biosimilar competition and received CRLs on pre-filled syringe/extended dosing; some pipeline misses (AERIFY-2, Nex-z hold)
- Heavy reliance on a few key products and Sanofi/Bayer collaborations
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, ARK Investment Management LLC
- Strong balance sheetStrong balance sheet — $18.9B cash & investments
- Notable holderHeld by 7 notable fund(s): STATE STREET CORP, FMR LLC, GOLDMAN SACHS GROUP INC +4 more (as of 2026-03-31)
- Insider sellingInsider selling — 70 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$4M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
24.9%
Net margin
31.4%
Return on equity
14.4%
Return on assets
11.1%
ROIC
8.5%
Revenue growth (QoQ)
-7.2%
Net-income growth
2.1%
Debt / equity
0.1×
Net debt / EBITDA
-4.1×
Current ratio
4.1×
EBITDA
$4.1B
Tangible book value
$30.0B
Cash & investments
$18.9B
Stock comp / revenue
6.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-01 | RYAN ARTHUR F | Sell | 15 | $702.46 |
| 2026-05-01 | RYAN ARTHUR F | Sell | 24 | $703.46 |
| 2026-05-01 | RYAN ARTHUR F | Sell | 15 | $704.28 |
| 2026-05-01 | RYAN ARTHUR F | Sell | 14 | $705.56 |
| 2026-05-01 | RYAN ARTHUR F | Sell | 7 | $706.74 |
| 2026-05-01 | RYAN ARTHUR F | Sell | 4 | $707.40 |
| 2026-05-01 | RYAN ARTHUR F | Sell | 5 | $701.76 |
| 2026-05-01 | RYAN ARTHUR F | Sell | 6 | $709.45 |
| 2026-05-01 | RYAN ARTHUR F | Sell | 2 | $710.87 |
| 2026-05-01 | RYAN ARTHUR F | Sell | 5 | $711.49 |
| 2026-05-01 | RYAN ARTHUR F | Sell | 1 | $712.09 |
| 2026-05-01 | RYAN ARTHUR F | Sell | 2 | $714.13 |
| 2026-04-01 | RYAN ARTHUR F | Sell | 1 | $771.32 |
| 2026-04-01 | RYAN ARTHUR F | Sell | 3 | $772.76 |
| 2026-04-01 | RYAN ARTHUR F | Sell | 8 | $773.59 |
| 2026-04-01 | RYAN ARTHUR F | Sell | 8 | $774.58 |
| 2026-04-01 | RYAN ARTHUR F | Sell | 14 | $775.58 |
| 2026-04-01 | RYAN ARTHUR F | Sell | 13 | $776.62 |
| 2026-04-01 | RYAN ARTHUR F | Sell | 9 | $777.42 |
| 2026-04-01 | RYAN ARTHUR F | Sell | 4 | $778.24 |
| 2026-04-01 | RYAN ARTHUR F | Sell | 40 | $779.71 |
| 2026-03-02 | RYAN ARTHUR F | Sell | 7 | $777.46 |
| 2026-03-02 | RYAN ARTHUR F | Sell | 2 | $778.30 |
| 2026-03-02 | RYAN ARTHUR F | Sell | 5 | $779.69 |
| 2026-03-02 | RYAN ARTHUR F | Sell | 3 | $780.69 |
| 2026-03-02 | RYAN ARTHUR F | Sell | 2 | $781.21 |
| 2026-03-02 | RYAN ARTHUR F | Sell | 2 | $782.62 |
| 2026-03-02 | RYAN ARTHUR F | Sell | 10 | $783.62 |
| 2026-03-02 | RYAN ARTHUR F | Sell | 9 | $784.48 |
| 2026-03-02 | RYAN ARTHUR F | Sell | 11 | $785.48 |
| 2026-03-02 | RYAN ARTHUR F | Sell | 7 | $786.61 |
| 2026-03-02 | RYAN ARTHUR F | Sell | 2 | $787.34 |
| 2026-03-02 | RYAN ARTHUR F | Sell | 20 | $788.96 |
| 2026-03-02 | RYAN ARTHUR F | Sell | 20 | $789.28 |
| 2026-02-19 | Zoghbi Huda Y | Option exercise | 1.6K | $376.69 |
| 2026-02-19 | Zoghbi Huda Y | Sell | 49 | $774.68 |
| 2026-02-19 | Zoghbi Huda Y | Sell | 50 | $775.50 |
| 2026-02-19 | Zoghbi Huda Y | Sell | 53 | $778.47 |
| 2026-02-19 | Zoghbi Huda Y | Sell | 208 | $779.55 |
| 2026-02-19 | Zoghbi Huda Y | Sell | 331 | $780.45 |
| 2026-02-19 | Zoghbi Huda Y | Sell | 209 | $781.28 |
| 2026-02-19 | Zoghbi Huda Y | Sell | 298 | $782.10 |
| 2026-02-19 | Zoghbi Huda Y | Sell | 220 | $783.29 |
| 2026-02-19 | Zoghbi Huda Y | Sell | 160 | $784.45 |
| 2026-02-19 | Zoghbi Huda Y | Sell | 56 | $785.61 |
| 2026-02-19 | Zoghbi Huda Y | Sell | 4 | $790.00 |
| 2026-02-09 | Pitofsky Jason | Sell | 75 | $780.06 |
| 2026-02-09 | Pitofsky Jason | Option exercise | 1.0K | $492.00 |
| 2026-02-09 | Pitofsky Jason | Sell | 20 | $775.95 |
| 2026-02-09 | Pitofsky Jason | Sell | 521 | $776.43 |
| 2026-02-09 | Pitofsky Jason | Sell | 391 | $777.51 |
| 2026-02-09 | Pitofsky Jason | Sell | 563 | $778.35 |
| 2026-02-09 | Pitofsky Jason | Sell | 205 | $779.56 |
| 2026-02-09 | Pitofsky Jason | Sell | 26 | $781.37 |
| 2026-02-09 | Pitofsky Jason | Sell | 37 | $782.67 |
| 2026-02-09 | Pitofsky Jason | Sell | 144 | $783.23 |
| 2026-02-09 | Pitofsky Jason | Sell | 1 | $784.66 |
| 2026-02-09 | Pitofsky Jason | Sell | 53 | $785.72 |
| 2026-02-09 | RYAN ARTHUR F | Sell | 1 | $775.63 |
| 2026-02-09 | RYAN ARTHUR F | Sell | 10 | $776.59 |
| 2026-02-09 | RYAN ARTHUR F | Sell | 57 | $777.56 |
| 2026-02-09 | RYAN ARTHUR F | Sell | 12 | $778.53 |
| 2026-02-09 | RYAN ARTHUR F | Sell | 5 | $779.41 |
| 2026-02-09 | RYAN ARTHUR F | Sell | 1 | $780.09 |
| 2026-02-09 | RYAN ARTHUR F | Sell | 5 | $781.48 |
| 2026-02-09 | RYAN ARTHUR F | Sell | 1 | $782.53 |
| 2026-02-09 | RYAN ARTHUR F | Sell | 3 | $783.34 |
| 2026-02-09 | RYAN ARTHUR F | Sell | 1 | $784.59 |
| 2026-02-09 | RYAN ARTHUR F | Sell | 1 | $785.71 |
| 2026-02-09 | RYAN ARTHUR F | Sell | 2 | $786.29 |
| 2026-02-09 | RYAN ARTHUR F | Sell | 1 | $787.82 |
| 2026-01-07 | Bassler Bonnie L | Option exercise | 1.5K | $374.12 |
| 2026-01-07 | Bassler Bonnie L | Sell | 1.5K | $800.00 |
| 2026-01-02 | Guarini Kathryn | Grant | 155 | — |
| 2026-01-02 | Bassler Bonnie L | Grant | 155 | — |
| 2026-01-02 | Zoghbi Huda Y | Grant | 155 | — |
| 2026-01-02 | Schenkein David P | Grant | 155 | — |
| 2026-01-02 | Thompson Craig B. | Grant | 155 | — |
| 2026-01-02 | GOLDSTEIN JOSEPH L | Grant | 155 | — |
| 2026-01-02 | SING GEORGE L | Grant | 155 | — |
| 2026-01-02 | COLES N ANTHONY | Grant | 155 | — |
| 2026-01-02 | POON CHRISTINE A | Grant | 155 | — |
| 2026-01-02 | RYAN ARTHUR F | Grant | 155 | — |
| 2026-01-02 | BROWN MICHAEL S | Grant | 155 | — |
| 2025-12-31 | YANCOPOULOS GEORGE | Option exercise | 29K | — |
| 2025-12-31 | YANCOPOULOS GEORGE | Tax withheld | 29K | $772.09 |
| 2025-12-31 | SCHLEIFER LEONARD S | Option exercise | 29K | — |
| 2025-12-31 | SCHLEIFER LEONARD S | Tax withheld | 29K | $772.09 |
| 2025-12-30 | SING GEORGE L | Option exercise | 9.2K | $520.01 |
| 2025-12-30 | SING GEORGE L | Tax withheld | 6.2K | $774.03 |
| 2025-12-09 | MURPHY ANDREW J | Tax withheld | 4.2K | $701.51 |
| 2025-12-09 | McCourt Marion | Tax withheld | 1.0K | $701.51 |
| 2025-12-09 | Van Plew Daniel P | Tax withheld | 2.6K | $701.51 |
| 2025-12-09 | YANCOPOULOS GEORGE | Option exercise | 147K | $555.67 |
| 2025-12-09 | YANCOPOULOS GEORGE | Tax withheld | 132K | $701.51 |
| 2025-12-09 | SCHLEIFER LEONARD S | Option exercise | 173K | $555.67 |
| 2025-12-09 | SCHLEIFER LEONARD S | Tax withheld | 155K | $701.51 |
| 2025-12-08 | McCourt Marion | Tax withheld | 1.3K | $712.94 |
| 2025-12-08 | Pitofsky Jason | Tax withheld | 989 | $712.94 |
| 2025-12-08 | MURPHY ANDREW J | Tax withheld | 1.7K | $712.94 |
| 2025-12-08 | Fenimore Christopher R. | Tax withheld | 992 | $712.94 |
| 2025-12-08 | Van Plew Daniel P | Tax withheld | 1.9K | $712.94 |
| 2025-12-08 | LAROSA JOSEPH J | Tax withheld | 1.4K | $712.94 |
| 2025-12-05 | Van Plew Daniel P | Grant | 3.7K | — |
| 2025-12-05 | LAROSA JOSEPH J | Grant | 2.5K | — |
| 2025-12-05 | Pitofsky Jason | Grant | 2.1K | — |
| 2025-12-05 | MURPHY ANDREW J | Grant | 3.7K | — |
| 2025-12-05 | McCourt Marion | Grant | 2.5K | — |
| 2025-12-05 | Fenimore Christopher R. | Grant | 3.0K | — |
| 2025-11-20 | Bassler Bonnie L | Sell | 760 | $750.00 |
| 2025-11-20 | Bassler Bonnie L | Option exercise | 760 | $371.40 |
| 2025-11-20 | LAROSA JOSEPH J | Option exercise | 14K | $555.67 |
| 2025-11-20 | LAROSA JOSEPH J | Tax withheld | 13K | $736.77 |
| 2025-11-07 | Pitofsky Jason | Sell | 431 | $651.43 |
| 2025-10-30 | POON CHRISTINE A | Option exercise | 2.7K | $520.01 |
| 2025-10-30 | MURPHY ANDREW J | Gift | 1.5K | — |
| 2025-10-29 | POON CHRISTINE A | Sell | 1.9K | $654.42 |
| 2025-10-29 | MURPHY ANDREW J | Option exercise | 35K | $555.67 |
| 2025-10-29 | MURPHY ANDREW J | Tax withheld | 32K | $648.82 |
| 2025-10-29 | POON CHRISTINE A | Option exercise | 6.5K | $520.01 |
| 2025-10-29 | POON CHRISTINE A | Sell | 650 | $652.68 |
| 2025-10-29 | POON CHRISTINE A | Sell | 2.7K | $653.50 |
| 2025-10-29 | POON CHRISTINE A | Sell | 100 | $655.10 |
| 2025-10-29 | POON CHRISTINE A | Sell | 712 | $656.50 |
| 2025-10-29 | POON CHRISTINE A | Sell | 388 | $657.29 |
| 2025-01-02 | Schenkein David P | Grant | 166 | — |
| 2025-01-02 | Thompson Craig B. | Grant | 166 | — |
| 2025-01-02 | COLES N ANTHONY | Grant | 166 | — |
| 2025-01-02 | Zoghbi Huda Y | Grant | 166 | — |
| 2025-01-02 | RYAN ARTHUR F | Grant | 166 | — |
| 2025-01-02 | POON CHRISTINE A | Grant | 166 | — |
| 2025-01-02 | Guarini Kathryn | Grant | 166 | — |
| 2025-01-02 | GOLDSTEIN JOSEPH L | Grant | 166 | — |
| 2025-01-02 | BROWN MICHAEL S | Grant | 166 | — |
| 2025-01-02 | SING GEORGE L | Grant | 166 | — |
| 2025-01-02 | Bassler Bonnie L | Grant | 166 | — |
| 2024-12-31 | SING GEORGE L | Tax withheld | 1.9K | $708.19 |
| 2024-12-31 | SING GEORGE L | Option exercise | 3.3K | $413.33 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT03682770 ↗ | Study in Pediatric Subjects With Peanut Allergy to Evaluate Efficacy and Safety of Dupilumab as Adjunct to AR101 (Peanut Oral Immunotherapy) Peanut Allergy | PHASE2 | Completed | 2020-10-16 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Supply chain
Customers (2)
- Bayer
- Sanofi
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-17 | 2026-06-12 | 0001104659-26-075127 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0000872589-26-000014 ↗ |
| 10-Q | 2026-04-29 | 2026-03-31 | 0000872589-26-000016 ↗ |
| 8-K | 2026-04-08 | 2026-04-08 | 0001104659-26-040661 ↗ |
| 10-K | 2026-02-04 | 2025-12-31 | 0000872589-26-000008 ↗ |
| 8-K | 2026-01-30 | 2026-01-30 | 0000872589-26-000004 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0001104659-26-002691 ↗ |
| 10-Q | 2025-10-28 | 2025-09-30 | 0000872589-25-000028 ↗ |
| 8-K | 2025-10-28 | 2025-10-28 | 0000872589-25-000026 ↗ |
| 8-K | 2025-10-06 | 2025-10-06 | 0001104659-25-096921 ↗ |
| 10-Q | 2025-08-01 | 2025-06-30 | 0000872589-25-000019 ↗ |
| 8-K | 2025-08-01 | 2025-08-01 | 0000872589-25-000017 ↗ |