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Drug Stocks Q4 Earnings Slated for Feb 23: BMRN, ICPT & More
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The fourth-quarter earnings season is drawing to a close with results from 411 S&P 500 members or 82.2% of the index’s total membership already out, as of Feb 22, 2017, according to the latest Earnings Preview report.
Total earnings for these 411 index members were up 8% from the year-ago quarter driven by 4.9% improvement in revenues. The beat ratio was 68.9% for earnings and 54.7% for revenues.
The results so far have been quite encouraging with growth on track to be the highest in two years and total earnings for the quarter set to be a new quarterly record.
However, the picture is not quite the same for pharmaceutical companies this season. The soft performance of pharma companies as evidenced this earnings season prevailed last week as well with Alexion Pharmaceuticals, Inc. delivering in-line earnings while missing revenue estimates. Further, Zoetis Inc. (ZTS - Free Report) surpassed bottom-line estimates while revenues came in line with expectations. However, the company narrowed its outlook for 2017 to account for the currency impact.
Meanwhile, Teva Pharmaceutical Industries Ltd.’s (TEVA - Free Report) fourth-quarter 2016 earnings and sales were above expectations. Importantly, the generic drug maker reiterated 2017 guidance despite the recent Copaxone patent loss.
Let's see how things are shaping up for these four pharma/biotech companies that are set to report fourth-quarter results on Feb 23.
BioMarin Pharma which is scheduled to release earnings after the market closes had delivered a positive surprise of 66.67% in the last quarter. Moreover, the company’s performance was encouraging in the recent past with its earnings surpassing expectations in three of the trailing four quarters with an average positive surprise of 11.80%.
Our proven model does not conclusively show thatBioMarin is likely to beat on earnings this quarter. Though the company’s favorable Zacks Rank #3 (Hold) increases the predictive power of the ESP, its Earnings ESP of 0.00% makes surprise prediction difficult. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. The Zacks Consensus Estimate is pegged at a loss of 40 cents per share.
Our previous article showed BioMarin was likely to beat on earnings this quarter. However, estimates changed thereafter and we are reasonably certain of a disappointing result this earnings season. Moreover, the company expects the unevenness in orders, particularly in Brazil and the Middle East to hurt international revenues in the fourth quarter. (Read More: BioMarin Q4 Earnings: Will it Post a Beat Again?).
Intercept Pharmaceuticals, Inc.
Intercept Pharmaceuticals, Inc. Price and EPS Surprise
Intercept, which is scheduled to release earnings before the market opens, had delivered a positive surprise of 3.49% in the last quarter. Further, the company’s performance has been encouraging so far with earnings beating expectations in three of the preceding four quarters while missing the same in one, with an average positive surprise of 3.19%.
For this quarter, Intercept has an Earnings ESP of 0.00% and carries a Zacks Rank #3. The Zacks Consensus Estimate is pegged at a loss of $3.58 per share.
We expect investors to remain focused on the company’s performance as well as the sales ramp-up of newly launched Ocaliva and pipeline updates in the fourth-quarter earnings call. (Read More: Intercept to Post Q4 Earnings: What's in the Cards?).
Ligand is scheduled to announce results after the closing bell. The company’searnings history is disappointing. Its earnings have surpassed expectations in two of the last four quarters with an average negative surprise to 5.01%.
Last quarter, Ligand recorded a negative surprise of 66.67%. The Zacks Consensus Estimate for the fourth quarter is pegged at $1.02.
For the fourth quarter, Ligand expects earnings in the range of $1.29–$1.36 per share on revenues of $39–$43 million (including approximately royalty revenues of $19 million. (Read More: Ligand Q4 Earnings: Will the Stock Pull a Surprise?)
Sage Therapeutics’s bottom-line performance has been disappointing in the recent past. Its earnings outpaced expectations in only one of the trailing four quarters with an average negative surprise of 2.95%.
Last quarter, Sage Therapeutics recorded a positive surprise of 0.86%. The company has an Earnings ESP of 0.00% and carries a Zacks Rank #3. The Zacks Consensus Estimate for the quarter is pegged at a loss of $1.14.
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Drug Stocks Q4 Earnings Slated for Feb 23: BMRN, ICPT & More
The fourth-quarter earnings season is drawing to a close with results from 411 S&P 500 members or 82.2% of the index’s total membership already out, as of Feb 22, 2017, according to the latest Earnings Preview report.
Total earnings for these 411 index members were up 8% from the year-ago quarter driven by 4.9% improvement in revenues. The beat ratio was 68.9% for earnings and 54.7% for revenues.
The results so far have been quite encouraging with growth on track to be the highest in two years and total earnings for the quarter set to be a new quarterly record.
However, the picture is not quite the same for pharmaceutical companies this season. The soft performance of pharma companies as evidenced this earnings season prevailed last week as well with Alexion Pharmaceuticals, Inc. delivering in-line earnings while missing revenue estimates. Further, Zoetis Inc. (ZTS - Free Report) surpassed bottom-line estimates while revenues came in line with expectations. However, the company narrowed its outlook for 2017 to account for the currency impact.
Meanwhile, Teva Pharmaceutical Industries Ltd.’s (TEVA - Free Report) fourth-quarter 2016 earnings and sales were above expectations. Importantly, the generic drug maker reiterated 2017 guidance despite the recent Copaxone patent loss.
Let's see how things are shaping up for these four pharma/biotech companies that are set to report fourth-quarter results on Feb 23.
BioMarin Pharmaceutical Inc. (BMRN - Free Report)
BioMarin Pharmaceutical Inc. Price and EPS Surprise
BioMarin Pharmaceutical Inc. Price and EPS Surprise | BioMarin Pharmaceutical Inc. Quote
BioMarin Pharma which is scheduled to release earnings after the market closes had delivered a positive surprise of 66.67% in the last quarter. Moreover, the company’s performance was encouraging in the recent past with its earnings surpassing expectations in three of the trailing four quarters with an average positive surprise of 11.80%.
Our proven model does not conclusively show thatBioMarin is likely to beat on earnings this quarter. Though the company’s favorable Zacks Rank #3 (Hold) increases the predictive power of the ESP, its Earnings ESP of 0.00% makes surprise prediction difficult. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. The Zacks Consensus Estimate is pegged at a loss of 40 cents per share.
Our previous article showed BioMarin was likely to beat on earnings this quarter. However, estimates changed thereafter and we are reasonably certain of a disappointing result this earnings season. Moreover, the company expects the unevenness in orders, particularly in Brazil and the Middle East to hurt international revenues in the fourth quarter. (Read More: BioMarin Q4 Earnings: Will it Post a Beat Again?).
Intercept Pharmaceuticals, Inc.
Intercept Pharmaceuticals, Inc. Price and EPS Surprise
Intercept Pharmaceuticals, Inc. Price and EPS Surprise | Intercept Pharmaceuticals, Inc. Quote
Intercept, which is scheduled to release earnings before the market opens, had delivered a positive surprise of 3.49% in the last quarter. Further, the company’s performance has been encouraging so far with earnings beating expectations in three of the preceding four quarters while missing the same in one, with an average positive surprise of 3.19%.
For this quarter, Intercept has an Earnings ESP of 0.00% and carries a Zacks Rank #3. The Zacks Consensus Estimate is pegged at a loss of $3.58 per share.
We expect investors to remain focused on the company’s performance as well as the sales ramp-up of newly launched Ocaliva and pipeline updates in the fourth-quarter earnings call. (Read More: Intercept to Post Q4 Earnings: What's in the Cards?).
Ligand Pharmaceuticals Incorporated (LGND - Free Report)
Ligand Pharmaceuticals Incorporated Price and EPS Surprise
Ligand Pharmaceuticals Incorporated Price and EPS Surprise | Ligand Pharmaceuticals Incorporated Quote
Ligand is scheduled to announce results after the closing bell. The company’searnings history is disappointing. Its earnings have surpassed expectations in two of the last four quarters with an average negative surprise to 5.01%.
Last quarter, Ligand recorded a negative surprise of 66.67%. The Zacks Consensus Estimate for the fourth quarter is pegged at $1.02.
The company has an Earnings ESP of 0.00% and carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For the fourth quarter, Ligand expects earnings in the range of $1.29–$1.36 per share on revenues of $39–$43 million (including approximately royalty revenues of $19 million. (Read More: Ligand Q4 Earnings: Will the Stock Pull a Surprise?)
Sage Therapeutics, Inc. (SAGE - Free Report)
Sage Therapeutics, Inc. Price and EPS Surprise
Sage Therapeutics, Inc. Price and EPS Surprise | Sage Therapeutics, Inc. Quote
Sage Therapeutics’s bottom-line performance has been disappointing in the recent past. Its earnings outpaced expectations in only one of the trailing four quarters with an average negative surprise of 2.95%.
Last quarter, Sage Therapeutics recorded a positive surprise of 0.86%. The company has an Earnings ESP of 0.00% and carries a Zacks Rank #3. The Zacks Consensus Estimate for the quarter is pegged at a loss of $1.14.
Now See Our Private Investment Ideas
While the above ideas are being shared with the public, other trades are hidden from everyone but selected members. Would you like to peek behind the curtain and view them? Starting today, for the next month, you can follow all Zacks' private buys and sells in real time from value to momentum . . . from stocks under $10 to ETF and option moves . . . from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for Zacks' secret trades >>