Earnings were outstanding once again. We should start to trend higher. Way back in the middle of 2012 I posted that REGN would earn $5 a share in 2013. This was at a time when the analyst were still down at $3.75. Since that time many analyst have raised their estimated to close to or at the $5 range. Well once again, I'm raising my 2013 non-GAAP estimate for REGN to $5.40!!!! I still haven't finished modeling 2014 but my guess is that my original estimate of $8 per share posted in mid-2012 will come up closer to the $8.50+ range.
I'm also adjusting my trading range for the year up to $155 to $215.
I think if its going to happen it will be prior to the end of April. I think the likelihood of hitting $155 decreases each day it stays above $160. I think the general pullback of 5 - 7% that is many people are expecting in late February and March could cause REGN to push down in the short term. However, shortly after that I think REGN starts to move higher. I think the low end of my range would be hit in the first 4-months of the year and the higher end of my range will be hit in later part of the year. Please keep in mind this is a trading range and often a stock trades within that range and never actually hits the high and low end of the range.