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Drug/Biotech Stocks Q1 Earnings Due on May 3: PFE, BIIB & More
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The first-quarter 2022 reporting cycle of the Medical sector is in full swing. The sector mainly comprises pharma/biotech and medical device companies.
The Earnings Trends report suggests that as of Apr 20, 7% of the companies in the Medical sector — representing 27.6% of the sector’s market capitalization — reported their quarterly earnings. While 100% participants beat on earnings, 75% outperform on revenues. Earnings and revenues increased 8.4% and 13.5% year over year, respectively. Overall, first-quarter earnings and sales of the Medical sector are expected to rise 10.3% and 13.3% each from the year-ago quarter’s respective reported figures.
With quite a large number of pharma and biotech bigwigs having already reported results, the earnings picture is looking reasonably well. Last week, a number of big pharma and biotech companies reported solid earnings for the first quarter. Merck (MRK) beat on both counts, driven by additional sales of oral COVID-19 drug molnupiravir. Similar to Merck, AstraZeneca and Eli Lilly beat on both earnings and sales. However, Humira-maker AbbVie’s earnings beat but revenues missed the mark.
Let’s analyze the performance of the above-mentioned biotech/pharma companies.
Pfizer
Pfizer, which has an impressive earnings track record so far, is scheduled to report quarterly results, before market open.
PFE’s earnings beat estimates in each of the last four quarters, the average being 19.8%. In the last reported quarter, Pfizer’s earnings beat estimates by 27.1%.
Our proven model indicates that the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
For the quarter to be reported, Pfizer has an Earnings ESP of -12.46% and a Zacks Rank #3. The Zacks Consensus Estimate for earnings stands at $1.66 per share. You can see the complete list of today’s Zacks #1 Rank stocks here.
Key contributors to Pfizer’s sales in the first quarter are likely to have been direct sales and alliance revenues from its partner BioNTech for the latter’s COVID-19 vaccine Comirnaty and revenues from Pfizer’s oral antiviral pill for COVID, Paxlovid.
Biogen
Biogen, which has an impressive earnings track record so far, is scheduled to report quarterly results, before market open.
BIIB’s earnings beat estimates in each of the last four quarters, the average being 11.7%. In the last reported quarter, Biogen’s earnings beat estimates by 2.1%.
Our previous article showed that Biogen had the favorable combination to beat on earnings in the soon-to-be-reported quarter. However, estimates have changed thereafter and a surprise prediction looks difficult now.
For the quarter to be reported, Biogen has an Earnings ESP of -0.32% and a Zacks Rank of 3. The Zacks Consensus Estimate for earnings stands at $4.41 per share.
Biogen’s sales in the first quarter are likely to have been hurt by lower sales of Tecfidera and Spinraza. While Tecfidera is facing generic competition, Spinraza is facing competition from other approved-drugs for spinal muscular atrophy as well as pricing pressure in Europe. Sales of the new Alzheimer’s drug, Aduhelm, are likely to have been minimal as patient access is limited.
Incyte
Incyte, which has a mixed earnings track record so far, is also scheduled to report quarterly results, before market open.
Incyte’s earnings beat estimates in three of the trailing four quarters, missing the mark in one, delivering an average negative surprise of 4.7%. In the last reported quarter, INCY’s earnings missed estimates by 88.1%.
For the quarter to be reported, Incyte has an Earnings ESP of +11.89% and a Zacks Rank #5 (Strong Sell). The Zacks Consensus Estimate for earnings stands at 57 cents per share.
Patient demand for Jakafi, a first-in-class JAK1/JAK2 inhibitor, in all approved indications (polycythemiavera, myelofibrosis and refractory acute graft-versus-host disease [GvHD]) increased sequentially in the fourth quarter of 2021, a trend that most likely continued in the to-be-reported quarter as well.
Esperion Therapeutics
Esperion Therapeutics, which has a mixed earnings track record so far, is scheduled to report quarterly results, before the opening bell.
ESPR’s earnings beat estimates in three of the trailing four quarters and missed the mark on one occasion, the average negative surprise being 7%. In the last reported quarter, Esperion’s earnings beat estimates by 23.7%.
Esperion Therapeutics, Inc. Price and EPS Surprise
For the quarter to be reported, Esperion has an Earnings ESP of +5.40% and is Zacks #3 Ranked,indicating a likely earnings surprise. The Zacks Consensus Estimate is pegged at a loss of 96 cents per share.
Esperion's approved drugs, such as Nexletol and Nexlizet, have demonstrated an encouraging uptake since their approval in the United States and Europe in 2020. The prescriptions for the drugs increased sequentially every quarter in 2021, a trend that most likely continued in the to-be-reported quarter as well.
Teva Pharmaceutical
TEVA, which has a decent earnings record so far, is scheduled to report quarterly results, before market open.
Teva Pharmaceutical’s earnings beat estimates in three of its trailing four quarters and missed the mark just once, the average surprise being 1.7%. In the last reported quarter, TEVA’s earnings beat estimates by 4.1%.
Teva Pharmaceutical Industries Ltd. Price and EPS Surprise
Image: Bigstock
Drug/Biotech Stocks Q1 Earnings Due on May 3: PFE, BIIB & More
The first-quarter 2022 reporting cycle of the Medical sector is in full swing. The sector mainly comprises pharma/biotech and medical device companies.
The Earnings Trends report suggests that as of Apr 20, 7% of the companies in the Medical sector — representing 27.6% of the sector’s market capitalization — reported their quarterly earnings. While 100% participants beat on earnings, 75% outperform on revenues. Earnings and revenues increased 8.4% and 13.5% year over year, respectively. Overall, first-quarter earnings and sales of the Medical sector are expected to rise 10.3% and 13.3% each from the year-ago quarter’s respective reported figures.
With quite a large number of pharma and biotech bigwigs having already reported results, the earnings picture is looking reasonably well. Last week, a number of big pharma and biotech companies reported solid earnings for the first quarter. Merck (MRK) beat on both counts, driven by additional sales of oral COVID-19 drug molnupiravir. Similar to Merck, AstraZeneca and Eli Lilly beat on both earnings and sales. However, Humira-maker AbbVie’s earnings beat but revenues missed the mark.
Pfizer (PFE - Free Report) , Biogen (BIIB - Free Report) , Incyte Corporation (INCY - Free Report) , Esperion Therapeutics (ESPR - Free Report) and Teva Pharmaceutical (TEVA - Free Report) are scheduled to release first-quarter earnings on May 3.
Let’s analyze the performance of the above-mentioned biotech/pharma companies.
Pfizer
Pfizer, which has an impressive earnings track record so far, is scheduled to report quarterly results, before market open.
PFE’s earnings beat estimates in each of the last four quarters, the average being 19.8%. In the last reported quarter, Pfizer’s earnings beat estimates by 27.1%.
Pfizer Inc. Price and EPS Surprise
Pfizer Inc. price-eps-surprise | Pfizer Inc. Quote
Our proven model indicates that the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
For the quarter to be reported, Pfizer has an Earnings ESP of -12.46% and a Zacks Rank #3. The Zacks Consensus Estimate for earnings stands at $1.66 per share. You can see the complete list of today’s Zacks #1 Rank stocks here.
Key contributors to Pfizer’s sales in the first quarter are likely to have been direct sales and alliance revenues from its partner BioNTech for the latter’s COVID-19 vaccine Comirnaty and revenues from Pfizer’s oral antiviral pill for COVID, Paxlovid.
Biogen
Biogen, which has an impressive earnings track record so far, is scheduled to report quarterly results, before market open.
BIIB’s earnings beat estimates in each of the last four quarters, the average being 11.7%. In the last reported quarter, Biogen’s earnings beat estimates by 2.1%.
Biogen Inc. Price and EPS Surprise
Biogen Inc. price-eps-surprise | Biogen Inc. Quote
Our previous article showed that Biogen had the favorable combination to beat on earnings in the soon-to-be-reported quarter. However, estimates have changed thereafter and a surprise prediction looks difficult now.
For the quarter to be reported, Biogen has an Earnings ESP of -0.32% and a Zacks Rank of 3. The Zacks Consensus Estimate for earnings stands at $4.41 per share.
Biogen’s sales in the first quarter are likely to have been hurt by lower sales of Tecfidera and Spinraza. While Tecfidera is facing generic competition, Spinraza is facing competition from other approved-drugs for spinal muscular atrophy as well as pricing pressure in Europe. Sales of the new Alzheimer’s drug, Aduhelm, are likely to have been minimal as patient access is limited.
Incyte
Incyte, which has a mixed earnings track record so far, is also scheduled to report quarterly results, before market open.
Incyte’s earnings beat estimates in three of the trailing four quarters, missing the mark in one, delivering an average negative surprise of 4.7%. In the last reported quarter, INCY’s earnings missed estimates by 88.1%.
Incyte Corporation Price and EPS Surprise
Incyte Corporation price-eps-surprise | Incyte Corporation Quote
For the quarter to be reported, Incyte has an Earnings ESP of +11.89% and a Zacks Rank #5 (Strong Sell). The Zacks Consensus Estimate for earnings stands at 57 cents per share.
Patient demand for Jakafi, a first-in-class JAK1/JAK2 inhibitor, in all approved indications (polycythemiavera, myelofibrosis and refractory acute graft-versus-host disease [GvHD]) increased sequentially in the fourth quarter of 2021, a trend that most likely continued in the to-be-reported quarter as well.
Esperion Therapeutics
Esperion Therapeutics, which has a mixed earnings track record so far, is scheduled to report quarterly results, before the opening bell.
ESPR’s earnings beat estimates in three of the trailing four quarters and missed the mark on one occasion, the average negative surprise being 7%. In the last reported quarter, Esperion’s earnings beat estimates by 23.7%.
Esperion Therapeutics, Inc. Price and EPS Surprise
Esperion Therapeutics, Inc. price-eps-surprise | Esperion Therapeutics, Inc. Quote
For the quarter to be reported, Esperion has an Earnings ESP of +5.40% and is Zacks #3 Ranked,indicating a likely earnings surprise. The Zacks Consensus Estimate is pegged at a loss of 96 cents per share.
Esperion's approved drugs, such as Nexletol and Nexlizet, have demonstrated an encouraging uptake since their approval in the United States and Europe in 2020. The prescriptions for the drugs increased sequentially every quarter in 2021, a trend that most likely continued in the to-be-reported quarter as well.
Teva Pharmaceutical
TEVA, which has a decent earnings record so far, is scheduled to report quarterly results, before market open.
Teva Pharmaceutical’s earnings beat estimates in three of its trailing four quarters and missed the mark just once, the average surprise being 1.7%. In the last reported quarter, TEVA’s earnings beat estimates by 4.1%.
Teva Pharmaceutical Industries Ltd. Price and EPS Surprise
Teva Pharmaceutical Industries Ltd. price-eps-surprise | Teva Pharmaceutical Industries Ltd. Quote
Teva Pharmaceutical has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). The Zacks Consensus Estimate for earnings stands at 55 cents per share.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.