Biopharma Pricing Power Seen as Key Swing Factor for Q2 Earnings, BofA Says
Biopharma pricing power will be the key swing factor for Q2 earnings as companies with cleaner growth outlooks continue to outperform peers facing loss-of-exclusivity headwinds, Bank of America said in a note Friday. Merck & Co (MRK), AbbVie (ABBV), Jazz Pharmaceuticals (JAZZ) and Ionis Pharmaceuticals (IONS) remain its top picks. Bank of America raised its price targets on AbbVie to $276 from $234, Johnson & Johnson (JNJ) to $263 from $254 and Eli Lilly to $1,334 from $1,251. The analysts lowered targets on Bristol Myers Squibb (BMY) to $66 from $67, Pfizer (PFE) to $26 from $27 and United Therapeutics (UTHR) to $613 from $620. Price: $123.45, Change: $-1.63, Percent Change: -1.30%
Biopharma pricing power will be the key swing factor for Q2 earnings as companies with cleaner growth outlooks continue to outperform peers facing loss-of-exclusivity headwinds, Bank of America said in a note Friday.
Merck & Co (MRK), AbbVie (ABBV), Jazz Pharmaceuticals (JAZZ) and Ionis Pharmaceuticals (IONS) remain its top picks.
Bank of America raised its price targets on AbbVie to $276 from $234, Johnson & Johnson (JNJ) to $263 from $254 and Eli Lilly to $1,334 from $1,251.
The analysts lowered targets on Bristol Myers Squibb (BMY) to $66 from $67, Pfizer (PFE) to $26 from $27 and United Therapeutics (UTHR) to $613 from $620.
Price: $123.45, Change: $-1.63, Percent Change: -1.30%