Watch These 5 Biotech Stocks for Q2 Earnings: Beat or Miss?

Industry Overview - The second-quarter 2024 reporting cycle for the Medical sector, which includes pharma/biotech and medical device companies, is gaining traction with several key companies reporting strong results [1] - As of July 24, 16.9% of companies in the Medical sector, representing 33.8% of the sector's market capitalization, reported quarterly earnings, with 100% outperforming both earnings and revenue estimates [1] - Year-over-year earnings for the Medical sector are expected to increase by 19.4%, while sales are projected to grow by 7.3% [1] Company Performance GSK plc - GSK has a solid track record, surpassing estimates in three of the last four quarters, with an average earnings surprise of 10.11% [3] - The Zacks Consensus Estimate for GSK's earnings per share is $1, driven by higher sales of newer products, which are expected to offset declines in older drug sales [4] Vertex Pharmaceuticals - Vertex has consistently beaten earnings estimates in the last four quarters, with an average surprise of 5.92% [5] - The Zacks Consensus Estimate for Vertex's revenues is $2.65 billion, with earnings estimated at $4.04 per share, driven by strong sales of its cystic fibrosis drug, Trikafta/Kaftrio [5] Biogen - Biogen has beaten earnings estimates in three of the last four quarters, with an average surprise of 3.91% [6] - The Zacks Consensus Estimate for Biogen's revenues is $2.38 billion, with earnings pegged at $4.00 per share, although sales are likely to be impacted by lower sales of multiple sclerosis drugs [7] Moderna - Moderna has exceeded earnings estimates in each of the last four quarters, with an average surprise of 55.39% [8] - The Zacks Consensus Estimate for Moderna's sales is $124.9 million, with an expected loss of $3.47 per share, as COVID-19 vaccine sales are anticipated to be minimal [8] Regeneron Pharmaceuticals - Regeneron has beaten earnings estimates in three of the last four quarters, with an average surprise of 4.47% [9] - The Zacks Consensus Estimate for Regeneron's revenues is $3.38 billion, with earnings estimated at $10.55 per share, driven by strong sales of the asthma drug Dupixent [9]