Positive. The drug and biotech sector is expected to outperform in the upcoming earnings reports.
From Nasdaq.: 2024-10-22 08:31:00
The drug and biotech sector’s earnings season is off to a strong start with Johnson & Johnson reporting better-than-expected third-quarter results. While J&J raised its revenue expectations, adjusted earnings were lowered due to recent acquisition costs. Overall, the Medical sector is expected to see a 6.4% increase in fourth-quarter earnings and an 8.5% rise in revenues.
As of Oct. 16, 5.2% of Medical sector companies have reported earnings, with 100% of them beating estimates. Among the upcoming quarterly earnings releases, Novo Nordisk, Novartis, Pfizer, Regeneron Pharmaceuticals, and Biogen are expected to outperform. Earnings ESP and a positive Zacks Rank increase the odds of an earnings beat, with a chance of up to 70%.
Novo Nordisk, Novartis, Pfizer, Regeneron Pharmaceuticals, and Biogen are all expected to deliver a beat in their upcoming quarterly results. Novo Nordisk boasts an Earnings ESP of +1.02% and a Zacks Rank #3, with a Consensus Estimate of 90 cents per share for the third quarter. Novartis, Pfizer, Regeneron, and Biogen also have strong potential for positive earnings surprises in their upcoming reports.
With Novartis, Pfizer, Regeneron, and Biogen all set to release their results shortly, investors are anticipating strong performances from the key pharmaceutical companies. While Novartis’s third-quarter revenues are expected to be driven by key drugs like Kesimpta and Entresto, Pfizer may see growth from its non-COVID products portfolio. Regeneron’s upcoming quarterly release is likely to be boosted by the sales of its blockbuster ophthalmology drug, Eylea.
The upcoming earnings reports from Novo Nordisk, Novartis, Pfizer, Regeneron Pharmaceuticals, and Biogen are eagerly anticipated, with the companies expected to deliver strong results. Novo Nordisk stands out with an Earnings ESP of +1.02% and a Zacks Rank #3, while Novartis, Pfizer, Regeneron, and Biogen also have favorable indicators for potential earnings surprises in their upcoming releases.
Investors are watching closely as Biogen prepares to release its third-quarter results, with expectations of earnings at $3.78 per share. While lower sales of certain drugs may impact revenues, new drug launches could offset any declines in revenue. Biogen’s upcoming earnings report will provide insights into the company’s overall performance and outlook.
Read more at Nasdaq.:: 5 Large Drug Stocks Likely to Outpace Q3 Earnings Estimates