Yahoo Finance Biotech Stocks' Q1 Earnings on May 9: NVAX, EBS & More
The earnings season for the drug/biotech sector is now in its final lap, with many biotech companies due to report their first-quarter results this week.
As far as the large drugmakers in the drug/biotech sector are concerned, it was a mixed earnings season for them, with many companies beating estimates for earnings but missing the same for sales and vice versa. Most large drugmakers maintained their previously issued financial guidance for 2023 despite the uncertain macro environment.
Per the Zacks classification, the pharma/biotech industry comes under the broader Medical sector, which comprises pharma/biotech as well as medical device companies.
As of May 3, per the Earnings Trends report, 68.4% of the Medical sector participants, constituting 86.6% of the sector’s market capitalization, have already reported earnings. While 82.1% of the companies beat on earnings, 84.6% surpassed on revenues. Earnings decreased 14.4% year over year, while revenues rose 4.5%.
Overall, first-quarter earnings of the Medical sector are expected to decline 19.2%, while sales are projected to increase 3.2%.
Here we discuss five biotech companies, Novavax NVAX, Emergent BioSolutions EBS, bluebird bio BLUE, Exelixis EXEL and Nektar Therapeutics NKTR, which are set to report first-quarter 2023 results on May 9.
Novavax
NVAX’s surprise record has been dismal so far, as its earnings missed expectations in each of the last four quarters. It has a trailing four-quarter negative earnings surprise of 146.69%, on average. In the last reported quarter, Novavax’s earnings missed estimates by 147.83%.
Novavax, Inc. Price and EPS Surprise
Novavax, Inc. price-eps-surprise | Novavax, Inc. Quote
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.
Novavax has an Earnings ESP of 0.00% and a Zacks Rank #3. The Zacks Consensus Estimate for loss per share stands at $3.38.
Novavax does not anticipate any new vaccine sales for the first quarter of 2023. We also expect management to provide an update on Novavax’s other pipeline candidates.
Emergent BioSolutions
Emergent BioSolutions has a poor track record, having missed earnings in each of the past four quarters, delivering an average negative earnings surprise of 618.77. In the last reported quarter, Emergent BioSolutions’ earnings missed estimates by 196.88%.
Emergent Biosolutions Inc. Price and EPS Surprise
Emergent Biosolutions Inc. price-eps-surprise | Emergent Biosolutions Inc. Quote
Emergent BioSolutions has an Earnings ESP of +1.99% and a Zacks Rank #3, suggesting a likely earnings surprise. The Zacks Consensus Estimate stands at a loss of $1.67 per share.
bluebird bio
bluebird bio’s surprise history has been mixed, with earnings beating estimates in three of the trailing four quarters while missing on one occasion. The average surprise is 45.59%. In the last reported quarter, bluebird bio’s earnings beat estimates by 184.44%.
bluebird bio, Inc. Price and EPS Surprise
bluebird bio, Inc. price-eps-surprise | bluebird bio, Inc. Quote
bluebird bio has an Earnings ESP of -10.17% and a Zacks Rank #3. The Zacks Consensus Estimate stands at a loss of 54 cents per share.
Exelixis
Exelixis’ surprise history has been encouraging so far, with its earnings beating the Zacks Consensus Estimate in all the trailing four quarters, delivering an average beat of 31.00%. In the last reported quarter, Exelixis delivered an earnings beat of 40.0%.
Exelixis, Inc. Price and EPS Surprise
Exelixis, Inc. price-eps-surprise | Exelixis, Inc. Quote
Exelixis has an Earnings ESP of 0.00% and has a Zacks Rank #3. The Zacks Consensus Estimate is pegged at 23 cents per share.
Nektar Therapeutics
Nektar Therapeutics surprise history has been encouraging so far, with its earnings beating the Zacks Consensus Estimate in all the trailing four quarters, delivering an average beat of 31.40%. In the last reported quarter, Nektar Therapeutics delivered an earnings beat of 28.89%.
Nektar Therapeutics Price and EPS Surprise
Nektar Therapeutics price-eps-surprise | Nektar Therapeutics Quote
Nektar Therapeutics has an Earnings ESP of -19.32% and has a Zacks Rank #3. The Zacks Consensus Estimate is pegged at a loss of 25 cents per share.
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Exelixis, Inc. (EXEL) : Free Stock Analysis Report
Nektar Therapeutics (NKTR) : Free Stock Analysis Report
Novavax, Inc. (NVAX) : Free Stock Analysis Report
Emergent Biosolutions Inc. (EBS) : Free Stock Analysis Report
bluebird bio, Inc. (BLUE) : Free Stock Analysis Report
