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Biotech In The Earnings Spotlight: Amgen, Celgene, Gilead Sciences

Biotech In The Earnings Spotlight: Amgen, Celgene, Gilead Sciences
  • Three leading biotech companies will step into the earnings spotlight this week.
  • Consensus forecasts from Wall Street analysts call for earnings growth from just two of them.
  • And only one of them has topped estimates by double-digits in recent quarters.

While the biotechnology industry has had a rough time so far this year, three of the leading players may be hoping to turn things around when they take their turns in the earnings spotlight this week.

The consensus Wall Street forecasts indicate that analysts have high hopes for solid to strong results from Amgen, Inc. (NASDAQ: AMGN) and Celgene Corporation (NASDAQ: CELG), on both the top and bottom lines. Shares of both concluded the three months that ended in June not far from where they began.

The expectations for Gilead Sciences, Inc. (NASDAQ: GILD) are different though. The consensus estimates indicate some shrinkage of both earnings and revenue, relative to the same period of last year. Shares drooped in the period, despite the company appointing a new chief operating officer and receiving a key FDA approval in the period.

Below is a quick look at what is expected from the reports of these three, as well as a peek at some of other health care companies that also are on tap to share their quarterly results this week.


In its report after Wednesday's closing bell, this human therapeutics company is expected to say that in its second quarter it had earnings of $2.79 per share, according to 32 Estimize respondents. That would be about 8 percent more than in the year-ago period. The Wall Street consensus estimate is $2.74 per share, but note that the analysts underestimated EPS by more than 11 percent in the past three quarters.

The Estimize overestimated revenue in the previous quarter, and this time the respondents are looking for about $5.61 billion. Here too the Wall Street revenue forecast is a little more conservative at $5.58 billion. In the same period of last year, the Thousand Oaks, California-based company reported $5.37 billion in revenue.

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The consensus Wall Street forecast calls for this biopharma company focused on cancer and inflammatory disorders to post second-quarter earnings of $1.38 per share (which would be 15 cents higher than in the same period of last year) and for revenue to have surged almost 19 percent to $2.71 billion in the period. Note that Celgene beat consensus EPS expectations in the first quarter but fell short on the top line.

Estimize is a bit more optimistic, with the consensus of 31 respondents pegging earnings at $1.40 per share on revenue of $2.72 billion for the three months that ended in June. Estimize also overestimated the revenue back in the first quarter. Celgene is scheduled to share its latest results before Thursday's trading session begins.

Gilead Sciences

The second-quarter profit of this research-based biopharmaceutical company is predicted to have slipped 13 cents per share, according to Wall Street analysts, from the $3.15 reported a year ago. The consensus of 226 Estimize respondents has earnings coming in at $3.06 per share. Note that first-quarter earnings fell short of both forecasts.

In Monday afternoon's report, analysts are looking for $7.77 billion in revenue for the three months that ended in June, which is less than the $7.90 billion that Estimize anticipates. The company posted revenue of $8.24 billion in the same period of last year. And back in the previous quarter, revenue also fell short of both forecasts.

And Others

Other biotech, pharmaceutical and health care companies that Wall Street analysts expect to show at least some earnings growth when they report this week include AbbVie, Anthem, AstraZeneca, Baxter International, Boston Scientific, Bristol-Myers Squibb, Centene, Edwards Lifesciences, Express Scripts, HCA, Merck, Vertex Pharmaceuticals and Zimmer Biomet.

However, the consensus forecasts call for EPS at Alexion Pharmaceuticals, Cigna, Eli Lilly, Illumina and Medivation to be smaller than a year ago. A net loss is anticipated from Seattle Genetics.

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Disclosure: At the time of this writing, the author had no position in the mentioned equities.

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