Regeneron: EPS Beat and 21% Revenue Growth Not Enough to Impress; Shares Down 4.4%
August 04, 2016 at 11:03 AM EDT
Wall Street isn’t impressed by the second quarter financial results posted today by Regeneron Pharmaceuticals ( REGN ). Per-share profit beat expectations , driven by sales of its flagship drug Eylea, and the drug maker reaffirmed its full-year growth forecast for the eye treatment. Still, Regeneron’s overall revenue missed the average Wall Street estimate of $1.24 billion, pushing the drug maker’s stock price down 4.4% to just over $422 a share
