Drug Stocks Earnings Preview: GERN, RPRX, ICPT, AGIO & More
Zacks Investment Research | May 03, 2016 11:25PM ET
As we approach the end of this earnings season, investors will possibly heave a sigh of relief seeing that the going was not as bad as expected. Of the total S&P500 members, 88% will have reported results by the end of this week, thus making the picture even clearer. A major reason behind companies posting better-than-expected results during the quarter is perhaps already lowered expectations since the beginning of the earnings cycle. The recent decline in the U.S. dollar also aided matters. As a result, although estimates for the second quarter are still witnessing downward revisions, the decline is not as severe as last quarter.
Meanwhile, the medical sector started the year on a shaky note due to the sell-off witnessed by the biotech sector in the second half of 2015. Nevertheless, things are definitely looking up as the sector is still poised to beat both earnings and revenues estimates on an overall basis. In fact, as per our Will AVEO Pharmaceuticals Surprise in Q1 Earnings? )
Stay tuned and check later on our full write-up on earnings releases of these stocks!
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