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Q2 Earnings Report Card: Biotech

Q2 Earnings Report Card: Biotech - Agios Pharmaceuticals NASDAQ:AGIO, Alnylam Pharmaceuticals, Inc. NASDAQ:ALNY

At least four big companies have reported their earnings results of the biotech sector last week. Of the four, Alnylam Pharmaceuticals, Inc. ALNY 4.1% shares gained more than 10 percent, while the other three shed a few percentage points compared to the price before the results announcement.

Regeneron reported revenue of $1.21 billion for the second quarter. This was below the Goldman Sachs and consensus estimates of $1.33 billion and $1.24 billion respectively. The adjusted EPS of $2.82 was above the consensus estimate of $2.61, but below Goldman Sachs' $3.03.

Analysts Terence Flynn, Cameron Bradshaw and Samir Siddhanti retained their Buy rating on the shares of the company. They have adjusted their estimate after the quarterly numbers. The stock, which lost 2.4 percent after the results, recovered $2.90, or 0.69 percent, to trade at $425.90.

On August 4, Agios reported its quarterly results. Its loss per share of $1.47 was below than the Street estimate though it was $0.01 loss better than Goldman Sachs predictions. The brokerage retained its Neutral rating on the stock while keeping its 12-month price tag unchanged at $46. Following the results, the stock shed 7.04 percent.

Alnylam Pharmaceuticals

Alnylam too reported its results on August 4. The company suffered a smaller loss of $1.05 a share compared to Goldman Sachs' and the consensus estimate of $1.37 loss per share.

The brokerage boosted its price objective from $63 to $65 and retained a Neutral rating on the shares of the company. The stock gained 11.5 percent after the results announcement.

Ophthotech reported results August 3. The company suffered a loss per share of $0.85 compared to the Goldman Sachs' estimate of $0.81 loss per share.

The brokerage noted that the management reiterated expectations for top-line data in the fourth quarter from two final stage studies assessing Fovista paired with Lucentis. The analysts kept their 12-month price target of $45 with a Sell rating based on a DCF analysis. The stock lost 2.4 percent after their quarterly results.

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DateFirmActionFromTo
Jun 2016Canaccord GenuityUpgradesHoldBuy
Jun 2016JP MorganUpgradesNeutralOverweight
May 2016Credit SuisseMaintainsOutperform

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