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The Zacks Analyst Blog Highlights: Gilead Sciences, Amgen, Vertex Pharmaceuticals, Celgene and Regeneron Pharmaceuticals

Zacks Equity Research
Higher throughput volumes aid Enbridge's (ENB) Q3 earnings.

For Immediate Release

Chicago, IL – November 1, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Gilead Sciences GILD, Amgen AMGN, Vertex Pharmaceuticals VRTX, Celgene CELG and Regeneron Pharmaceuticals, Inc. REGN.

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

Here are highlights from Wednesday’s Analyst Blog:

Biotech Stock Roundup: Celgene, Amgen, Vertex Impress in Q3

Earnings took center stage for the biotech sector this week, with quite a few bigwigs like Gilead Sciences, Amgen, Vertex Pharmaceuticals and Celgene coming up with third-quarter results. Apart from these, regular pipeline updates and data read outs were also in the news.

Recap of the Week’s Top Stories:

Celgene, Vertex, Amgen Shine in Q3: The going has been good for the biotech bigwigs in the third quarter. Celgene topped both revenue and earnings estimates in Q3 and upped its guidance on a jump in psoriasis drug Otezla sales. Lead drug, Revlimid too maintained momentum for the company.

Vertex Pharmaceuticals topped both earnings and sales estimates in Q3 on strong cystic fibrosis (CF) product revenues. Amgen also surpassed earnings and sales estimates in Q3. Meanwhile, Gilead Sciences, Inc.’s third-quarter earnings beat estimates, but the year-over-year decline was disappointing as the magnitude of decline in hepatitis C virus (HCV) sales continues to deepen.

Alexion currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Regeneron’s Eylea Succeeds Diabetic Retinopathy Trial: Regeneron Pharmaceuticals, Inc. announced that the phase III trial, PANORAMA, evaluating lead drug Eylea injection in patients suffering from moderately severe and severe non-proliferative diabetic retinopathy (NPDR) met its one-year (52-week) primary endpoint and key secondary endpoints. The data showed that every eight-week and every 16-week dosing groups met primary and key secondary endpoints at one year.  We note that the supplemental application for Eylea for the treatment of diabetic retinopathy, based on previously announced 24-week results is currently under FDA review with an action date of May 13, 2019. 

Concurrently, Regeneron announced that the FDA issued a complete response letter (CRL) regarding the Chemistry, Manufacturing and Controls (CMC) Prior-Approval Supplement (PAS) for the Eylea pre-filled syringe. The FDA has requested additional information regarding manufacturing and supply processes and the completion of a usability study evaluating a single injection of the Eylea pre-filled syringe in approximately 30 patients. Regeneron plans to resubmit the PAS in early 2019 after collecting necessary information.

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Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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Celgene Corporation (CELG) : Free Stock Analysis Report
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