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Table: EPS watch
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Monday, January 27, 2014
At least seven biotechs and pharmas reported earnings
last week. Big pharmas Bristol-Myers Squibb (NYSE:BMY) and Johnson
& Johnson (NYSE:JNJ) lost a combined $18.2 billion in market
value last week despite beating consensus EPS and revenue estimates. ISI Group's
Mark Schoenebaum noted that BMS "seemed a bit cautious on the combination
of its PD-1 and Yervoy in lung cancer" on the earnings call. BMS's
nivolumab mAb against programmed cell death 1 (PDCD1; PD-1; CD279) and Yervoy
ipilimumab are in the Phase I CheckMate 012 trial to treat non-small cell lung
cancer (NSCLC). BMS ended the week down 6%. J&J, which fell 5%, provided
2014 EPS guidance below the Street's expectations.
Forest Laboratories Inc. (NYSE:FRX) reached its
52-week high of $72.40 on the day it announced EPS and revenues that beat the
Street. The pharma was off 6% on the week.
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