As we approach the end of the earnings season, several drug/biotech companies have already reported their quarterly results. Overall, results of the said sector were mixed.

Per the Zacks classification, the pharma/biotech industry comes under the broader Medical sector, which comprises pharma/biotech and generic companies, as well as medical device companies.

Per the Earnings Trends report, as of May 4, 77.2% of companies in the Medical sector, constituting nearly 87.8% of the sector’s market capitalization, have reported earnings. While 84.1% of the companies beat earnings estimates, 75% beat the same for revenues. Earnings increased 18.9% year over year on 17.3% higher revenues.

Overall, first-quarter earnings of the Medical sector are expected to rise 16.3% on a 14.8% sales increase.

Let's see how things have shaped up for Bausch Health Companies Inc. (BHC Quick QuoteBHC - Free Report) , Exelixis, Inc. (EXEL Quick QuoteEXEL - Free Report) , Reata Pharmaceuticals, Inc. , Epizyme, Inc. and Catalyst Pharmaceuticals, Inc. (CPRX Quick QuoteCPRX - Free Report) in the first quarter. These companies will report earnings on May 10:

Bausch Health Companies Inc.

Bausch’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, delivering a beat of 8.95%, on average. In the last-reported quarter, the company had delivered an earnings surprise of 17.59%.

Bausch has an Earnings ESP of 0.00% and a Zacks Rank #3. The Zacks Consensus Estimate for first-quarter earnings is $1.03 per share. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.

Per our proven model, stocks with the combination of a positive Earnings ESP and a Zacks Rank #1, #2 (Buy) or #3 (Hold) have a good chance of delivering an earnings beat. This does not seem to be the case with Bausch for the to-be-reported quarter. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Bausch’s leading brands performed well in the last-reported quarter, and the momentum is likely to have continued in the first quarter.

Salix segment revenues increased year over year in the last-reported quarter, a trend that most likely continued in the to-be reported quarter.

Revenues from International Rx, Ortho Dermatologics and the Diversified Products segments declined on a yearly basis in the last-reported quarter. It remains to be seen whether the trend continued in the first quarter.

Exelixis, Inc.

Exelixis’ earnings surpassed estimates in two of the trailing four quarters and missed the same on the other two occasions, delivering a beat of 169.36%, on average. In the last-reported quarter, the company delivered an earnings surprise of 314.29%.

Our proven model predicts an earnings beat for Exelixis in the to-be-reported quarter. Exelixis’ Earnings ESP is +21.95% and it has a Zacks Rank #3 currently. The Zacks Consensus Estimate for its earnings in the to-be-reported quarter stands at 14 cents.

Exelixis’ first-quarter 2022 revenues are likely to have been driven by the sales of Cabometyx, which is approved for advanced renal-cell carcinoma and previously treated hepatocellular carcinoma.

Reata Pharmaceuticals, Inc.

Reata’s earnings surpassed estimates in three of the trailing four quarters and missed the same on the other occasion, delivering a beat of 8.54%, on average. In the last-reported quarter, the company delivered an earnings surprise of -1.73%.

Reata has an Earnings ESP of 0.00% and a Zacks Rank #3. The Zacks Consensus Estimate for its loss in the to-be-reported quarter stands at $2.26 per share.

Reata currently has two pivotal-stage pipeline candidates — bardoxolone and omaveloxolone. The company submitted a new drug application for omaveloxolone as a treatment for Friedreich's ataxia in March 2022.

Reata’s top line currently comprises of collaboration revenues, which declined substantially in the last-reported quarter — a trend that most likely continued in the first quarter.

Operating expenses are likely to have increased in the to-be reported quarter owing to the developmental activities related to its pipeline candidates.

Epizyme, Inc.

Epizyme’s earnings missed estimates in each of the trailing four quarters, delivering an earnings surprise of -22.49%, on average. In the last-reported quarter, the company delivered an earnings surprise of -19.51%.

Epizyme has an Earnings ESP of 0.00% and a Zacks Rank #3. The Zacks Consensus Estimate for its earnings in the to-be-reported quarter stands at a loss of 35 cents per share.

The company’s lead drug, Tazverik (tazemetostat) continues to perform well. Epizyme’s first-quarter 2022 revenues are likely to have been driven by the sales of Tazverik, which is approved for treating follicular lymphoma and epithelioid sarcoma.

Catalyst Pharmaceuticals, Inc.

Catalyst’s earnings surpassed estimates in two of the trailing four quarters, met the same once and missed the same on the other occasion, delivering a surprise of 18.75%, on average. In the last-reported quarter, the company delivered an earnings surprise of -25.00%.

Catalyst has an Earnings ESP of 0.00% and a Zacks Rank #3. The Zacks Consensus Estimate for its earnings in the to-be-reported quarter stands at 14 cents per share.

The uptake of the company’s lead drug, Firdapse (amifampridine), has been encouraging so far. Catalyst’s first-quarter 2022 revenues are likely to have been driven by the sales of Firdapse which is approved for treating Lambert-Eaton myasthenic syndrome.

Firdapse sales grew both sequentially as well as year over year in the last-reported quarter — a trend that most likely continued in the first quarter.

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