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 story : Regeneron stock rises, as profit, revenue and sales of SARS-CoV-2 antibody cocktail beat expectations #FinanceUSA #StockMarketNEWS Shares of Regeneron Pharmaceuticals Inc. rose 0.8% in premarket trading

@stockMarketNEWS Thu 06 May, 2021

Posted in: #FinanceUSA #StockMarketNEWS

Regeneron stock rises, as profit, revenue and sales of SARS-CoV-2 antibody cocktail beat expectations #FinanceUSA #StockMarketNEWS
Shares of Regeneron Pharmaceuticals Inc. rose 0.8% in premarket trading Thursday, after the biotechnology company beat first-quarter profit and revenue expectations, with sales of its REGEN-COV antibody cocktail to the SARS-CoV-2 virus also topping forecasts. Net income rose to .12 billion, or .09 a share, from 5 million, or .43 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share grew to .89 from .60, beating the FactSet consensus of .68. Revenue increased 38% to .53 billion, topping the FactSet consensus of .50 billion, as REGEN-COV sales of 2 million beat expectations of 4.6 million. For 2021, the company cut its capital expenditures guidance range to 5 million to 0 million from 0 million to 0 million. The stock has lost 3.3% over the past three months through Wednesday, while the iShares Nasdaq Biotechnology ETF has dropped 11.9% and the S&P 500 has gained 7.2%.


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