How Will Biotech ETFs React To These Q4 Earnings Releases?

Earnings in Focus

On Feb. 2, Amgen AMGN reported fourth-quarter 2020 earnings of $3.81 per share, which surpassed the Zacks Consensus Estimate of $3.36. Earnings increased 5% year over year, largely on the back of higher revenues. Total revenues of $6.63 billion in the quarter outpaced the Zacks Consensus Estimate of $6.57 billion. Moreover, total revenues increased 7% year over year.

Amgen guided revenues in the range of $25.8-$26.6 billion. Adjusted earnings per share are expected in the range of $16.00 to $17.00 per share. 

On Feb. 4, Gilead Sciences GILD reported earnings of $2.19 per share for the December-end quarter, up from $1.10 in the year-ago quarter. The figure surpassed the Zacks Consensus Estimate of $2.15. Total revenues of $7.4 billion beat the Zacks Consensus Estimate of $7.11 billion and increased 26% from the year-ago quarter mainly owing to incremental sales of Veklury.

Product sales are projected around $23.7-$25.1 billion. Veklury sales are expected to be in the range of $2-$3 billion. Earnings per share are expected in the range of $6.75-$7.45.

On Feb. 3, Biogen BIIB reported fourth-quarter 2020 earnings per share of $4.58, which lagged the Zacks Consensus Estimate of $4.93. Earnings slid 45.1% year over year on lower revenues. Sales of the company totaled $2.85 billion, down 22% from the year-ago quarter. Sales, however, surpassed the Zacks Consensus Estimate of $2.82 billion. The company saw softer sales of multiple sclerosis drug Tecfidera and spinal muscular atrophy drug, Spinraza.

On Feb. 4, Alexion Pharmaceuticals ALXN posted fourth-quarter adjusted earnings of $2.96 per share, which rose from the year-ago quarter’s $2.71. Earnings also outpaced the Zacks Consensus Estimate of $2.50. Revenues were up 15% year over year to $1.59 billion and outpaced the Zacks Consensus Estimate of $1.51 billion on higher sales of Soliris, Ultomiris and Strensiq.

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