Regeneron Surrenders Most Early Gains After Q3 Beat

Regeneron Pharmaceuticals Inc (NASDAQ: REGN) shares are trading higher by $1.50 at $405.89 in Wednesday's session.

Before the open, the company reported a Q3 adjusted EPS beat of 14 cents along with a sales beat of $40.1 million.

The stock bottomed on its much higher opening tick of $416.00 and briskly continued its move higher. In the first two minutes of the session the issue spiked to $432.50 before sharply reversing course. That high rest in between its Oct. 24 ($436.75) and Oct. 25 ($429.73).

Since coming off the elevated level, Regeneron has come back down through its opening price, but has yet to reach Tuesday's close ($404.39) as $405.00 stands as the low for the session as of 2:22 p.m. EST.