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The meat of large-cap pharmaceutical earnings season starts this week. Johnson & Johnson (NYSE: JNJ)’s strong Q1 report last week has Credit Suisse analyst Vamil Divan hopeful that AbbVie Inc (NYSE: ABBV), Bristol-Myers Squibb Co (NYSE: BMY) and Eli Lilly and Co (NYSE: LLY) will be able to continue the positive momentum when they all report this week.
Credit Suisse has high hopes for each of the three names, and recently raised its sales estimates for Eli Lilly’s Humalog, Bristol-Myers’ Opdivo and AbbVie’s Humira.
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This Week In Pharma
Eli Lilly is first to report on Tuesday, and Credit Suisse is calling for earnings of $0.86 on $4.9 billion in sales, both above consensus estimates of $0.85 and $4.8 billion, respectively. Divan will be watching for news or an updated timetable for the company’s phase 3 trial of solanezumab.
AbbVie reports on Thursday. Credit Suisse is calling for in-line earnings of $1.14 on sales of $6.0 billion. Divan is anticipating that Humira sales will come in higher than expected but that Q1 was light for Viekira Pak.
Bristol-Myers also reports on Thursday. Credit Suisse is predicting a slight earnings beat ($0.67 versus $0.63 consensus) on in-line sales of $4.2 billion. Divan anticipates that investors will be focused on the commercial and clinical progress of Opdivo and the rest of the company’s immune-oncology assets.
Credit Suisse maintains Overweight ratings on AbbVie, Bristol Myers and Eli Lilly.
Disclosure: The author holds no position in the stocks mentioned.
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