Top 5 Gainers on Wednesday

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In this article, we discuss the top 5 gainers on Wednesday. If you want to see some more stocks gaining value today, go directly to Top 10 Gainers on Wednesday.

5. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Number of Hedge Fund Holders: 44

Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) rose over six percent after the opening bell this morning. The rise was a result of better-than-expected financial performance for the second quarter.

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) attributed the results to solid sales contributions from its eczema drug Dupixent and vision drug Eylea. Overall, the company reported adjusted earnings of $9.77 per share, above the consensus of $9.54 per share. Revenue for the quarter plummeted 44 percent to $2.86 billion but surpassed the estimates of $2.80 billion.

Eylea continues to be one of the biggest sales drivers for Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN). The eye drug generated revenue of $2.49 billion in the quarter, compared to $2.28 billion in the year-ago period. In addition, Dupixent brought revenue of $2.09 billion, representing a jump of about 40 percent over the comparable period of 2021.

Commenting on the results, CEO Leonard S. Schleifer said:

“The second quarter of 2022 was distinguished by record net product sales of EYLEA, Dupixent, and Libtayo, as well as multiple regulatory achievements for Dupixent, including U.S. approvals for atopic dermatitis among very young patients and for eosinophilic esophagitis in adults and adolescents, as well as European approval for pediatric asthma.”

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