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The Heart Of Major Pharma Q1 Earnings Season: Eli Lilly, AbbVie, Bristol-Myers

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Johnson & Johnson NYSE:JNJ, ABBV - The Heart Of Major Pharma Q1 Earnings Season: Eli Lilly, AbbVie, Bristol-Myers

The meat of large-cap pharmaceutical earnings season starts this week. Johnson & Johnson JNJ 0.17%’s strong Q1 report last week has Credit Suisse analyst Vamil Divan hopeful that AbbVie Inc ABBV 0.98%, Bristol-Myers Squibb Co BMY 0.12% and Eli Lilly and Co LLY 0.14% 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.

Related Link: Why Q1 Earnings Season Has Been More Bullish Than It May Seem

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.

DateFirmActionFromTo
Apr 2016Goldman SachsMaintainsNeutral
Apr 2016BarclaysMaintainsOverweight
Apr 2016Argus ResearchMaintainsBuy

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