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The Zacks Analyst Blog Highlights: Biogen, Gilead Sciences, Regeneron Pharma, Bristol-Myers Squibb and Incyte

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For Immediate Release

Chicago, IL – February 11, 2021 – announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Biogen Inc. (BIIB - Free Report) , Gilead Sciences, Inc. (GILD - Free Report) , Regeneron Pharmaceuticals, Inc. (REGN - Free Report) , Bristol-Myers Squibb Company (BMY - Free Report) and Incyte Corporation (INCY - Free Report) .

Here are highlights from Wednesday’s Analyst Blog:

Biotech Stock Roundup: Q4 Earnings Edition

A host of leading biotechs came up with earnings reports this week. New drug approvals, label expansions of the existing drugs, and other pipeline and regulatory updates grabbed the spotlight.

Recap of the Week’s Most Important Stories

Earnings Updates From Biogen, Gilead Among others:  Biotech giant Biogen missed on earnings in the fourth quarter but beat on sales. Revenues were, however, down year over year due to lower sales of the multiple sclerosis (MS) drug Tecfidera and the spinal muscular atrophy (SMA) drug Spinraza. Moreover, the guidance for 2021 was not impressive.

Gilead Sciences reported better-than-expected results for the fourth quarter of 2020 on increased demand for Veklury to treat COVID-19 patients. However, the core virology business continues to decline due to the coronavirus pandemic. Gilead expects a gradual recovery in the underlying market dynamics starting the second quarter of 2021.

Regeneron Pharmaceuticals reported better-than-expected results for the fourth quarter of 2020 wherein both earnings and sales beat estimates, driven by strong Dupixent growth, fueled by continued label expansions. Eylea too maintained a solid momentum despite the pandemic.

Bristol-Myers Squibb reported better-than-expected results for the fourth quarter of 2020 as its multiple myeloma (MM) drug Revlimid and the blood thinner Eliquis, drove growth. Another MM drug Pomalyst also led to this upside. Further, the company lifted its earnings guidance for 2021.

Incyte Corp.beat on sales and earnings in the fourth quarter as demand for Jakafi continues to boost sales. Moreover, the recent approval of Pemazyre, Monjuvi and Tabrecta generated additional revenues for the company.

Incyte currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Bristol-Myers’ CAR T Cell Therapy Gets FDA Nod:  Bristol-Myers obtained an FDA approval for its CD19-directed chimeric antigen receptor (CAR) T cell therapy Breyanzi (lisocabtagene maraleucel; liso-cel) after a few delays. The therapy is approved for the treatment of adult patients with relapsed or refractory (R/R) large B-cell lymphoma (LBCL) after two or more lines of systemic therapy including diffuse large B-cell lymphoma (DLBCL) not otherwise specified (including DLBCL resulting from indolent lymphoma), high-grade B-cell lymphoma, primary mediastinal large B-cell lymphoma and follicular lymphoma grade 3B. The FDA nod for Breyanzi was based on data from the TRANSCEND NHL 001 (017001) study, in which 268 patients with R/R LBCL received Breyanzi.

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