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Table: EPS watch
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Monday, April 28, 2014
At least 18 biotechs and pharmas reported earnings
last week. Gilead Sciences Inc. (NASDAQ:GILD) added nearly $6 billion to
its market cap last week, while fellow big biotech Amgen Inc. (NASDAQ:AMGN)
lost more than $3 billion. Gilead blew away the Street's EPS and revenue
estimates as the first full quarter of Sovaldi sofosbuvir sales came in at $2.3
billion. According to Deutsche Bank's Robyn Karnauskas, the Street expected $1
billion in sales for the HCV drug, which Gilead launched last December. Amgen
missed analyst consensus EPS and revenue estimates partly due to
lower-than-expected sales of autoimmune drug Enbrel etanercept.
AstraZeneca plc (LSE:AZN; NYSE:AZN) ended the
week up 8%, tacking on $6.5 billion in market value. AZ shares gained 9% last
Monday following media reports that the pharma was previously in talks to be
acquired by Pfizer Inc. (NYSE:PFE). According to the reports, the
pharmas are no longer in negotiations. AZN reported 1Q14 EPS on Thursday that
missed the Street's EPS estimate.
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