Morgan Stanley Gives a Preview for Biotech's Q4 Earnings (GILD, CELG, BIIB, GENZ, More...)
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Morgan Stanley recently came out with theirQ409 earnings preview for several biotechnology stocks.
Morgan Stanley believes that Celgene (NASDAQ: GELG) has the best trends and that Revlimid sales will reach or exceed MS's $480 million estimate. Consensus sees sales of about $475 million. This would amount to a $2 billion annual rate, and with the consideration of new launches in several countries, positive data, and potential increase in pricing, this target isn't that far off. Due to 2009 stumbles, 2010 may be a little conservative on the company. Morgan Stanley aims for the upper end of Street consensus estimates. MS has Q409 EPS of $0.63
Biogen's (NASDAQ: BIIB) Avonex continues its decline. Price increases offset a portion, there's still a risk to downside for Q409 and FY10 expectations. MS has Q409 EPS of $1.03.
Genzymes (NASDAQ: GENZ) is dealing with the fallout of some manufacturing issues, and MS believes that the Street remains a little too optomistic on Cerezyme in Q409, and Fabrazyme and Myozyme in FY10. MS has Q409 EPS of $0.29.
Amylin (NASDAQ: AMLN) has Byetta as its big shooter, but its looking to have another tepid quarter. The FDA outcome for Novo Nordisk's liraglutide is likely to overshadow earnings-related announcements. MS has Q409 loss of (0.12).
Amgen (NASDAQ: AMGN) will have a top-line that is flat or slightly weak. MS expects EPS to be in-line. Lack of information on Prolia means a broader range for guidance. MS has Q409 EPS of $1.19.
Gilead (NASDAQ: GILD) might have weak HIV sales, but November has been a weaker sales month for the past 4 - 5 years, bringing guidance closer. MS has Q409 EPS of $0.29.
OSI's (NASDAQ: OSIP) Tarceva shows variable results so far, but rumors are looking for better-than-expected sales in the U.S., so look for GILD to top. MS has Q409 EPS of $0.74.
Onyx Pharma's (NASDAQ: ONXX) Nexavar has recently benefitted from a weaker dollar, but the U.S. dollar is making a stong comeback as of late which may negatively impact FY10 guidance and results. MS has Q409 EPS of $0.36.
Morgan Stanley believes that Celgene (NASDAQ: GELG) has the best trends and that Revlimid sales will reach or exceed MS's $480 million estimate. Consensus sees sales of about $475 million. This would amount to a $2 billion annual rate, and with the consideration of new launches in several countries, positive data, and potential increase in pricing, this target isn't that far off. Due to 2009 stumbles, 2010 may be a little conservative on the company. Morgan Stanley aims for the upper end of Street consensus estimates. MS has Q409 EPS of $0.63
Biogen's (NASDAQ: BIIB) Avonex continues its decline. Price increases offset a portion, there's still a risk to downside for Q409 and FY10 expectations. MS has Q409 EPS of $1.03.
Genzymes (NASDAQ: GENZ) is dealing with the fallout of some manufacturing issues, and MS believes that the Street remains a little too optomistic on Cerezyme in Q409, and Fabrazyme and Myozyme in FY10. MS has Q409 EPS of $0.29.
Amylin (NASDAQ: AMLN) has Byetta as its big shooter, but its looking to have another tepid quarter. The FDA outcome for Novo Nordisk's liraglutide is likely to overshadow earnings-related announcements. MS has Q409 loss of (0.12).
Amgen (NASDAQ: AMGN) will have a top-line that is flat or slightly weak. MS expects EPS to be in-line. Lack of information on Prolia means a broader range for guidance. MS has Q409 EPS of $1.19.
Gilead (NASDAQ: GILD) might have weak HIV sales, but November has been a weaker sales month for the past 4 - 5 years, bringing guidance closer. MS has Q409 EPS of $0.29.
OSI's (NASDAQ: OSIP) Tarceva shows variable results so far, but rumors are looking for better-than-expected sales in the U.S., so look for GILD to top. MS has Q409 EPS of $0.74.
Onyx Pharma's (NASDAQ: ONXX) Nexavar has recently benefitted from a weaker dollar, but the U.S. dollar is making a stong comeback as of late which may negatively impact FY10 guidance and results. MS has Q409 EPS of $0.36.
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