Should You Buy Regeneron Pharmaceuticals Stock Before Oct. 30?

Regeneron Pharmaceuticals' (NASDAQ:REGN) stock is having an underwhelming year, down around 1% thus far. It's been a quality growth stock to own for the long haul, and with some terrific assets in its portfolio, it has the potential to perform much better in the long run.

Next month, on Oct. 30, it will release its third-quarter earnings results. A solid round of results could be just what's needed for the healthcare stock to rally. Is it a good buy before then?

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The company's most recent results gave the stock a boost

When Regeneron last reported earnings in late July, the numbers were strong, and gave the stock a boost in the days and weeks afterward. The company's revenue for the quarter, which went up until the end of June, totaled $4.3 billion and rose 17% year over year. Global sales of Dupixent and Libtayo were particularly strong, rising by 38% and 30%, respectively. Revenue for Eylea HD in the U.S. was also up an impressive 52%.

As a result of the strong numbers, the stock would end up rising afterward, eventually hitting a new 52-week high in early September. It's come down from those highs since, but if there's another strong quarter of growth, Regeneron's stock may rally once again, especially if its growth rate, which hasn't been all that strong in recent years, remains in double-digits yet again.

REGN Revenue (Quarterly YoY Growth) data by YCharts

Regeneron may be a slam-dunk buy right now

Although it hasn't been a great year for Regeneron, this is a healthcare stock that could have plenty of room to rise much higher given its solid results, modest valuation, and tremendous growth prospects.

Not only is the business growing at a decent pace of late, but it also has a strong pipeline of drugs, with around 50 product candidates in development, which could pave the way for much more growth in the future.

Meanwhile, with the stock trading at only 19 times trailing earnings and falling to a multiple of less than 15 based on future profits (based on analyst expectations), it makes for a solid value buy. By comparison, the average stock on the S&P 500 trades at more than 23 times its trailing profits and roughly 20 times forward earnings.

Regeneron's stock may be overdue for a bigger rally. Its last earnings report gave the stock a bit of a boost, and the same might happen again after it releases its latest numbers in late October. But whether that happens or not, for long-term investors, now can be a terrific time to load up on this top growth stock.

David Jagielski, CPA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Regeneron Pharmaceuticals. The Motley Fool has a disclosure policy.