Regeneron Pharmaceuticals (REGN) shares fell 4.54% on Monday, reaching a low of $752.25. Investors grew cautious ahead of the company’s third-quarter earnings report, expected on October 30.
The decline came despite positive analyst sentiment earlier in September. HSBC raised its price target on Regeneron to $920 and maintained a buy rating.
The earnings report could influence whether the shares recover or extend their decline.