Drug Stocks Q2 Earnings Roster For Aug 8: ACAD, JAZZ & More
Zacks Investment Research | Aug 06, 2017 10:32PM ET
The second-quarter 2017 earnings season is nearing its last leg and the picture so far appears to be quite encouraging. After a few turbulent quarters, earnings for the second quarter of 2017 showed solid strength. As of Aug 4, approximately 420 S&P 500 companies or 86.1% of the index’s total market capitalization have reported results. A deep look into the results show that earnings for the companies reported are up 11.6% year over year on 5.6% higher revenues. Of these, 74.3% have topped earnings estimates while 68.3% have beat on revenue estimates resulting in a blended beat of 55.0%.
Growth in the second quarter came on the back of strong contribution from the Finance, Technology and Energy sectors. The growth is expected to persist in the second half of 2017 as well. Even though the pace of growth has been sluggish, total Q2 earnings for the index are currently up 10% from the same period last year on 5.1% higher revenues, much better than the 7.9% earnings growth projected at the start of the quarter. Going forward, the estimate for Q3 growth is 4.3%, down from 6.3% projected at the start of July.
How Did the Medical Sector Perform?
The Medical sector has more or less combated the overall decline in the financial markets and maintained momentum. So far 83.6% of the companies in the sector have reported results. Earnings are up 7.1% on 4% higher revenues resulting in a blended beat of 65.2%. Among these, industry bellwether Johnson & Johnson (NYSE:JNJ) reported mixed second-quarter results, beating on earnings but missing on sales estimates. Biotech giants Gilead Sciences (NASDAQ:GILD) and Biogen (NASDAQ:BIIB) Inc. surpassed expectations both for earnings and sales in the second quarter of 2017 and raised their annual guidance.
Let’s take a look at the pharma/biotech companies that are set to report second-quarter results on Aug 8.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) is scheduled to report after the closing bell. The company has a dismal track record. ACADIA has missed estimates in two of the trailing four quarters, beat once and reported in-line results in the remaining quarter, resulting in an average negative surprise of 10.2%Currently, the company has a Zacks Rank #3 (Hold) and a 0.00% )
ACADIA Pharmaceuticals Inc. Price and EPS Surprise
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Jazz Pharmaceuticals PLC Price and EPS Surprise
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Get The News You Want
Kite Pharma, Inc. Price and EPS Surprise
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Get The News You Want
Mallinckrodt PLC Price and EPS Surprise
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