We are into the last round of earnings for the drug/biotech sector. Overall, it has been a better-than-expected earnings season so far for the drug and biotech sector. Most companies beat consensus EPS and revenue estimates. Though a few drug/biotech companies did lower their financial guidance, most of them either maintained or raised their guidance for the year.
Per the Zacks classification, the pharma/biotech industry comes under the broader Medical sector, which comprises pharma/biotech as well as medical device companies.
Per the Earnings Trends report, as of Jul 27, 25% of the Medical sector companies, constituting nearly 41.2% of the sector’s market capitalization, reported earnings. While 85.7% of the companies beat on earnings, 78.6% surpassed revenue estimates. Earnings increased 5.1% year over year, while revenues rose 10.7%.
Overall, second-quarter earnings of the Medical sector are expected to rise 1.1%, while revenues are projected to increase 7.9%.
Here we discuss four companies, Exelixis (EXEL - Free Report) , Bausch Health Companies (BHC - Free Report) , Catalyst Pharmaceuticals (CPRX - Free Report) and Axsome Therapeutics (AXSM - Free Report) , which are set to report second-quarter results on Aug 9.
Exelixis
This drugmaker’s earnings performance has been mixed, with its earnings beating estimates in three of the trailing four quarters, but missing the mark in one. Exelixis delivered a four-quarter earnings surprise of 208.86%, on average. In the last reported quarter, the company delivered an earnings surprise of 50.0%.
Per our proven model, companies with the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) have a good chance of delivering an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Exelixis has an Earnings ESP of -9.09% and a Zacks Rank #3. The Zacks Consensus Estimate for earnings stands at 20 cents per share.
Bausch Health Companies
This company’s performance has been decent, with its earnings beating estimates in three of the trailing four quarters, but missing the mark in one. The company has a four-quarter negative earnings surprise of 1.24%, on average. In the last reported quarter, Bausch Health delivered a negative earnings surprise of 30.10%.
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We are into the last round of earnings for the drug/biotech sector. Overall, it has been a better-than-expected earnings season so far for the drug and biotech sector. Most companies beat consensus EPS and revenue estimates. Though a few drug/biotech companies did lower their financial guidance, most of them either maintained or raised their guidance for the year.
Per the Zacks classification, the pharma/biotech industry comes under the broader Medical sector, which comprises pharma/biotech as well as medical device companies.
Per the Earnings Trends report, as of Jul 27, 25% of the Medical sector companies, constituting nearly 41.2% of the sector’s market capitalization, reported earnings. While 85.7% of the companies beat on earnings, 78.6% surpassed revenue estimates. Earnings increased 5.1% year over year, while revenues rose 10.7%.
Overall, second-quarter earnings of the Medical sector are expected to rise 1.1%, while revenues are projected to increase 7.9%.
Here we discuss four companies, Exelixis (EXEL - Free Report) , Bausch Health Companies (BHC - Free Report) , Catalyst Pharmaceuticals (CPRX - Free Report) and Axsome Therapeutics (AXSM - Free Report) , which are set to report second-quarter results on Aug 9.
Exelixis
This drugmaker’s earnings performance has been mixed, with its earnings beating estimates in three of the trailing four quarters, but missing the mark in one. Exelixis delivered a four-quarter earnings surprise of 208.86%, on average. In the last reported quarter, the company delivered an earnings surprise of 50.0%.
Per our proven model, companies with the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) have a good chance of delivering an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Exelixis has an Earnings ESP of -9.09% and a Zacks Rank #3. The Zacks Consensus Estimate for earnings stands at 20 cents per share.
Bausch Health Companies
This company’s performance has been decent, with its earnings beating estimates in three of the trailing four quarters, but missing the mark in one. The company has a four-quarter negative earnings surprise of 1.24%, on average. In the last reported quarter, Bausch Health delivered a negative earnings surprise of 30.10%.
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Record profits at oil companies can mean big gains for you. With soaring demand and elevated prices, oil stocks could be top performers by far in 2023. Zacks has released a special report revealing the 4 oil stocks experts believe will deliver the biggest gains. (You’ll never guess Stock #2!)
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