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Regeneron Shares Higher on Strong Earnings

NEW YORK (TheStreet) -- Shares of Regeneron Pharmaceuticals (REGN) are up 4.7% to $294.91 in Tuesday trading after beating Wall Street estimates on its third-quarter earnings.

The New York-state based company earned $1.25 a share on $597 million in revenue, dominating estimates of 90 cents a share on $502.78 million in revenue, according to analysts surveyed by Yahoo! Finance.

The pharmaceuticals company said the majority of sales was due to its eye drug Eylea, which saw 49% growth to $363 million over the quarter.

However, Regeneron tempered expectations for the fourth quarter, stating growth of the drug is expected to slow. For full-year 2013, Eylea is forecast to generate sales between $1.35 billion to $1.375 billion, upwardly revised from its previous range of $1.3 billion to $1.35 billion.

TheStreet Ratings team rates Regeneron Pharmaceuticals as a Buy with a ratings score of B. The team has this to say about their recommendation:

"We rate Regeneron Pharmaceuticals (REGN) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

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