- ANIP Q1 Earnings & Sales Beat Estimates, '26 Outlook Raised
May 11, 2026
ANI Pharmaceuticals ANIP delivered first-quarter 2026 adjusted EPS of $2.05, up nearly 21% year over year and well ahead of the Zacks Consensus Estimate of $1.28.
Quarterly revenues totaled $237.5 million, up 20.5% from the year-ago period. The metric also beat the Zacks Consensus Estimate of $205.4 million.
The quarter reflected solid execution across the portfolio, led by continued momentum for Purified Cortrophin Gel and contributions from a newly monetized intellectual property licensing arrangement.
ANIP's Revenue Mix Tilts Toward Rare Disease and Royalties
Rare Disease and Brands' total net revenues were $128.2 million, up 36% year over year, supported by contributions from both Cortrophin Gel and Iluvien. Within that bucket, Cortrophin Gel net revenues rose 42% to $75.1 million, while Iluvien sales increased 19.5% to $19.3 million.
The reported Cortrophin sales marginally missed the Zacks Consensus Estimate of about $76 million. Per management, the drug’s sales were impacted primarily by seasonality tied to insurance re-verifications, which took longer to clear early in the quarter due to higher patient volume at physicians’ offices and weather-related physician office closures in some regions.
ANIP's shares fell more than 2% on Friday, suggesting some investors focused on the slightly softer-than-expected Cortrophin print despite the broader earnings and revenue beat. Year to date, the stock has gained about 4% against the industry’s nearly 3% decline.Zacks Investment Research
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The company also reported $21.5 million in brand royalties and other revenues in the quarter, reflecting the up-front payment and early royalty income tied to its Harmony Biosciences HRMY licensing agreement. By contrast, Brands' revenues declined 51% year over year to $12.3 million as demand normalized for certain products.
In January, the company’s Novitium subsidiary entered into an agreement with Harmony Biosciences, under which ANIP out-licensed intellectual property related to pitolisant, marketed under the brand name Wakix. The agreement generated a $15 million upfront license fee and includes low single-digit royalties on sales of pitolisant-based products. It provides for an additional $10 million in development milestones that management expects to be achieved in the second and third quarters of 2026.
ANIP Generics Business Adds Steady Growth
Generics and Other net revenues were $109.2 million in the first quarter, up 6% year over year. Growth was driven primarily by Generic pharmaceutical products, which rose about 7% to $105.4 million, supported by contributions from new launches and continued strength from the partnered generic launch that began in the third quarter of 2025.
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Management said ANIP launched six new generics products year to date and remains on track to deliver 10-15 new generics launches in 2026.
ANIP Details Cortrophin Demand and Gout Commercial Expansion
As the re-verification backlog cleared, the company said momentum improved in February and March and carried into April, which posted the highest new patient starts and monthly volumes dispensed since launch. The company pointed to broad-based prescribing gains across targeted specialties, including rheumatology, nephrology, neurology, pulmonology and ophthalmology.
A key 2026 growth initiative is the planned expansion into acute gouty arthritis flares via a new dedicated commercial organization. ANIP expects the majority of this team to be in the field by the end of the second quarter, targeting about 7,000 high-priority primary care and podiatry prescribers and an estimated addressable population of roughly 285,000 patients; acute gouty arthritis flares represented about 18% of total Cortrophin utilization to date.
ANIP's Profitability Reflects Royalty-Bearing Mix Pressures
On a non-GAAP basis, cost of sales increased 28% year over year to $93.1 million, tracking higher volumes and a richer mix of royalty-bearing products. Adjusted gross margin was 60.8%, down about 230 basis points from the prior-year period.
ANIP attributed the margin contraction primarily to higher sales of royalty-bearing products, including Cortrophin Gel and a partnered generic product launched in the third quarter of 2025, as well as the non-recurrence of prior-year Prucalopride revenues. Management noted that these headwinds were partly offset by initial revenues recognized under the HRMY agreement.
ANIP's Spending Ramps With Rare Disease Investments
Adjusted selling, general and administrative expenses rose 12% year over year to $71.4 million, reflecting initial marketing and recruitment spending tied to the acute gout commercial buildout and broader activity to support growth. Adjusted research and development expense remained essentially flat year over year at about $10 million.
Despite the higher operating expense run rate, adjusted EBITDA increased 24% to $63 million, supported by the revenue lift and resulting gross profit growth.
ANIP Raises 2026 Guidance & Authorizes Share Repurchases
Following the strong start to the year, the company raised its full-year 2026 outlook for total net revenues by $25 million to $1.08-$1.14 billion and lifted adjusted EBITDA guidance by $10 million to $285-$300 million. Adjusted EPS is now expected in the range of $9.19-$9.69 (previously: $8.83-$9.34), while Cortrophin Gel net revenue guidance of $540-$575 million and Iluvien guidance of $78-$83 million were reaffirmed.
On the earnings call, the company tied its higher full-year outlook partly to stronger-than-expected Generics performance exiting the first quarter and improved visibility into upcoming launches for the remainder of the year.
Separately, ANIP’s board authorized a new $100 million share repurchase program running through May 2029, adding flexibility alongside its stated focus on business development.
ANIP's Cash Position Improves as Leverage Remains Manageable
The company ended the quarter with $311.2 million in unrestricted cash and cash equivalents, up from $285.6 million at the end of 2025. Operating cash flow was $58.4 million in the first quarter, reflecting the stronger earnings profile and working-capital dynamics.
As of March 31, 2026, the company reported $625 million in principal value of outstanding debt, inclusive of senior convertible notes and a term loan. Management cited gross leverage of 2.6x and net leverage of 1.3x based on trailing 12-month adjusted non-GAAP EBITDA of $242 million, positioning the balance sheet to support continued investment and potential inorganic opportunities.
ANIP’s Zacks Rank
The stock currently carries a Zacks Rank #3 (Hold).
ANI Pharmaceuticals, Inc. PriceANI Pharmaceuticals, Inc. Price
ANI Pharmaceuticals, Inc. price | ANI Pharmaceuticals, Inc. Quote
Our Key Picks Among Biotech Stocks
Some better-ranked stocks from the sector are Amarin Corporation AMRN and Indivior Pharmaceuticals INDV, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Amarin’s 2026 loss per share have narrowed from $7.01 to $6.36. Over the same period, loss per share estimates for 2027 have improved from $5.50 to $4.64. AMRN's shares have risen 8% year to date.
Amarin’s earnings beat estimates in three of the trailing four quarters but missed the mark on one occasion, delivering an average surprise of 50.02%.
Over the past 60 days, estimates for Indivior Pharmaceuticals’ 2026 EPS have increased from $3.03 to $3.35. Over the same period, EPS estimates for 2027 have risen to $3.69 from $3.46. INDV's shares have risen 10% year to date.
Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 65.44%.
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- European Equities Traded in the US as American Depositary Receipts Start Week on Flat Note in Monday Trading
May 11, 2026
European equities traded in the US as American depositary receipts opened the week on a flat note Mo
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- Is Agilon Health (AGL) Stock Outpacing Its Medical Peers This Year?
May 11, 2026
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Agilon Health (AGL) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Agilon Health is one of 888 companies in the Medical group. The Medical group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Agilon Health is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AGL's full-year earnings has moved 47.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that AGL has returned about 215% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of -8.2% on a year-to-date basis. This shows that Agilon Health is outperforming its peers so far this year.
One other Medical stock that has outperformed the sector so far this year is Amarin (AMRN). The stock is up 7.9% year-to-date.
The consensus estimate for Amarin's current year EPS has increased 12.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Agilon Health belongs to the Medical Services industry, a group that includes 63 individual companies and currently sits at #98 in the Zacks Industry Rank. Stocks in this group have lost about 11% so far this year, so AGL is performing better this group in terms of year-to-date returns.
In contrast, Amarin falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 432 stocks and is ranked #142. Since the beginning of the year, the industry has moved -1.8%.
Going forward, investors interested in Medical stocks should continue to pay close attention to Agilon Health and Amarin as they could maintain their solid performance.
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- TBPH Q1 Earnings Beat Amid Strategic Restructuring & Pipeline Hurdle
May 8, 2026
Theravance Biopharma TBPH reported first-quarter 2026 adjusted earnings of 1 cent per share, beating the Zacks Consensus Estimate of breakeven earnings. In the year-ago quarter, the company had incurred an adjusted loss of 17 cents per share.
Total revenues in the quarter were $17.7 million, slightly short of the Zacks Consensus Estimate of $18 million. Revenues surged 15% year over year, driven by growth in collaboration revenues for Yupelri sales and improved operating leverage.
Year to date, shares of Theravance have declined 9.1% against the industry’s 0.9% growth.Zacks Investment Research
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TBPH’s Q1 Earnings in Detail
Theravance’s top line consisted solely of collaboration revenues from partner Viatris VTRS tied to Yupelri (revefenacin) sales in the United States.
Theravance and VTRS have collaborated on the development and commercialization of Yupelri, which is approved in the United States for the maintenance treatment of patients with chronic obstructive pulmonary disease.
Viatris and Theravance share U.S. profits and losses associated with the commercialization of Yupelri. While Viatris gets 65% of the profits, Theravance receives 35%. Viatris' collaboration revenues include Theravance’s 35% share of Yupelri net sales, as well as its proportionate amount of the total shared costs incurred by the two companies.
In March, Theravance and Viatris reached a settlement agreement with Mankind Pharma, granting the company a license to launch a generic version of Yupelri beginning April 23, 2039.
Research and development expenses (excluding share-based compensation) totaled $5.2 million, down 49.8% from the year-ago quarter’s level, driven by cost savings from the restructuring announced in March and the ongoing wind-down of the CYPRESS study on its lead candidate, ampreloxetine.
Selling, general and administrative expenses (excluding share-based compensation) increased 2.1% year over year to $14.9 million.
As of March 31, 2026, Theravance had cash, cash equivalents and marketable securities worth $394.7 million compared with $326.5 million as of Dec. 31, 2025.
TBPH's Pipeline Setback & Program Discontinuation
In early March, Theravance announced disappointing top-line data from the pivotal phase III CYPRESS study, which evaluated its lead pipeline candidate, ampreloxetine, a norepinephrine reuptake inhibitor for the treatment of symptomatic neurogenic orthostatic hypotension in patients with multiple system atrophy, a progressive brain disorder.
The study failed to achieve its primary and secondary endpoints and did not reach statistical significance despite showing biological activity.
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Consequently, TBPH decided to wind down the ampreloxetine program and accelerate a strategic review process, including evaluating potential options such as a sale of the company to maximize shareholder value.
TBPH’s Organizational Restructuring & Cost Optimization
Besides the strategic review, the company is currently undergoing a major organizational restructuring aimed at optimizing its cost structure and sharpening its focus on its commercial product, Yupelri. Theravance looks to reduce its workforce by approximately 50% by shutting down its entire research and development division and cutting roughly 50% of general and administrative staff. These layoffs are expected to occur over the next two quarters.
The restructuring is expected to cut operating costs by approximately 60% relative to the company’s 2025 operating cost of $111.1 million. Combined with continued sales of Yupelri, these savings are projected to drive approximately $60-$70 million in annualized cash flow beginning in the third quarter of 2026.
Theravance Biopharma, Inc. Price, Consensus and EPS SurpriseTheravance Biopharma, Inc. Price, Consensus and EPS Surprise
Theravance Biopharma, Inc. price-consensus-eps-surprise-chart | Theravance Biopharma, Inc. Quote
TBPH's Zacks Rank & Other Stock to Consider
Theravance currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the biotech sector are Amarin Corporation AMRN and Indivior Pharmaceuticals INDV, each currently sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Amarin’s 2026 loss per share have narrowed from $7.01 to $6.36. Over the same period, loss per share estimates for 2027 have also narrowed from $5.50 to $4.64. AMRN shares have risen 5.9% year to date.
Amarin’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 50.02%.
Over the past 60 days, estimates for Indivior Pharmaceuticals’ 2026 earnings per share have increased from $3.03 to $3.35. Over the same period, EPS estimates for 2027 have risen to $3.69 from $3.46. INDV shares have risen 10.4% year to date.
Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 65.44%.
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- VRTX's Alyftrek, Journavx & Casgevy See Strong Momentum in Q1 Earnings
May 8, 2026
Vertex Pharmaceuticals Incorporated’s VRTX first-quarter 2026 results were decent as it beat estimates for earnings and sales.
The company’s total revenues of $2.99 billion rose 8% year over year, driven by higher sales of cystic fibrosis (CF) drugs Trikafta/Kaftrio and Alyftrek, as well as meaningful contributions from new non-CF products, Journavx and Casgevy. Vertex reiterated its full-year 2026 revenue guidance in the range of $12.95-$13.10 billion for 2026.
Investor focus was on the performance of Vertex’s newer drugs, Alyftrek, Journavx and Casgevy, which were launched in the past couple of years and hold the key to long-term growth.
Alyftrek is a once-a-day oral triple combination regimen for CF. Journavx is a novel non-opioid pain medicine (suzetrigine) and Vertex and partner CRISPR Therapeutics’ CRSP Casgevy is a one-shot gene therapy approved for two blood disorders, sickle cell disease and transfusion-dependent beta-thalassemia.
Year to date, shares of Vertex have declined 6.3% compared with the industry’s decrease of 0.2%.Zacks Investment Research
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Let’s dig deeper to understand how these new products performed in the first quarter and the company’s outlook for the same through the rest of the year.
VRTX’s Alyftrek Tops $1B Global Sales as Launch Gains Pace
Alyftrek continues to outperform expectations and generated sales worth $424.4 million in the first quarter compared with $380.1 million in the fourth quarter. The rollout of Alyftrek in the United States and Europe is progressing well across all patient groups. The drug has now surpassed $1 billion in cumulative global revenues since its approval in the United States in late 2024 and in the EU in July 2025. Alyftrek’s once-daily dosing and improved sweat chloride profile continue to resonate with patients and doctors.
VRTX’s Casgevy, Journavx Contribute 25% of Revenue Growth
In the first quarter, products from Vertex’s new non-CF disease areas, namely Casgevy and Journavx, drove approximately 25% of total product revenue growth, which was encouraging as Vertex’s dependence on just the CF franchise for revenues has been a growing concern. CF sales are also slightly slowing down.
Journavx (suzetrigine) generated $29 million in sales in the first quarter compared with $26.7 million in the fourth quarter. Prescription growth remains strong, although first-quarter revenues reflected some normal inventory destocking.
More than 350,000 prescriptions were written for Journavx across both hospital and retail settings in the quarter compared to approximately 550,000 in all of 2025, showing that uptake is accelerating. In 2026, Vertex expects Journavx prescriptions to triple compared to 550,000 written in 2025, supported by a larger commercial field force, wider payer coverage, and improving gross-to-net economics.
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Journavx’s reimbursement trends are also improving. Coverage has expanded to about 240 million lives, supported by agreements with the three largest commercial pharmacy benefit managers. The company also secured its first major Medicare Part D coverage agreement, effective May 1. Discussions are continuing with the remaining major Medicare plans and regional payers, which could further expand access.
Vertex and partner CRISPR’s one-shot gene therapy, Casgevy’s sales were $42.9 million in the first quarter of 2026, down from $54.3 million recorded in the fourth quarter of 2025 due to quarter-to-quarter variability in Casgevy infusions.
Nonetheless, the launch of Casgevy is gaining traction across the United States, Europe and the Middle East, with more than 500 patients having started treatment since launch, hundreds completing initial cell collection, and many already reaching the stage where edited cells are ready for infusion.
Vertex is also making rapid progress in the drug’s access and reimbursement and secured a pricing agreement for Casgevy in Germany in the first quarter.
In 2026, Vertex expects continued quarter-to-quarter variability in Casgevy infusions, which the company expects will smooth out in 2027 and beyond.
While Alyftrek will be the key driver of Vertex’s total revenues in 2026, with Journavx and Casgevy gaining traction, Vertex is steadily broadening its growth base beyond CF. The company expects non-CF products to generate revenues of $500 million plus in 2026, representing year-over-year growth of around 185%, driven by growing Casgevy infusions and a meaningful ramp in Journavx prescriptions and revenues.
VRTX’s Zacks Rank & Stocks to Consider
Vertex currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Agenus AGEN and Amarin AMRN, each carrying a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Agenus’ shares have risen 29.2% in the past year. Estimates for its 2026 earnings per share have increased from 54 cents to $1.30 over the past 60 days. Loss estimates for 2027 have narrowed from $1.91 per share to $1.52 per share.
Agenus’ earnings beat estimates in two of the trailing four quarters while missing in the other two, with the average surprise being 31.42%.
In the past 60 days, estimates for Amarin’s loss per share have narrowed from $7.01 to $6.36 for 2026. During the same time, loss per share estimates for 2027 have narrowed from $5.50 to $4.64. In the past year, shares of AMRN have gained 42%.
Amarin’s earnings beat estimates in three of the trailing four quarters while missing in one, the average surprise being 50.02%.
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- Xenon Q1 Earnings Match Estimates, Pipeline Development in Focus
May 8, 2026
Xenon Pharmaceuticals XENE reported a loss of $1.17 per share in the first quarter of 2026, matching the Zacks Consensus Estimate. The company had incurred a loss of 83 cents per share in the year-ago quarter.
In the reported quarter, Xenon did not generate any revenues, entirely missing the Zacks Consensus Estimate of $15 million. Due to the lack of a marketed product, the company recognizes only periodic collaboration revenues in its top line from its ongoing partnership with Neurocrine Biosciences NBIX. In the year-ago quarter, XENE recognized $7.5 million in revenues following a milestone payment from Neurocrine Biosciences in connection with the progress of NBI-921355 into a clinical-stage study.
XENE's Q1 Results in Detail
In the first quarter, research and development (R&D) expenses increased 45% year over year to $88.5 million. The uptick was primarily due to increased expenses related to Xenon’s ongoing azetukalner late-stage studies in epilepsy, major depressive disorder (MDD) and bipolar depression (BPD). Costs incurred in supporting the early-stage studies of XEN1701 and XEN1120, as well as increased personnel-related costs, also contributed to higher R&D expenses.
General and administrative expenses totaled $23.8 million in the reported quarter, up 25% year over year due to higher personnel expenses from a larger workforce and increased professional and consulting fees.
Xenon had cash, cash equivalents and marketable securities worth $1,339.6 million as of March 31, 2026, compared to $586.0 million as of Dec. 31, 2025. During the reported quarter, the company raised net proceeds of $130 million through its ATM program and an additional $707.6 million via a public offering. Based on its current operating plans, Xenon expects its existing cash position to support operations into 2029.
Year to date, XENE shares have gained 24.9% against the industry’s 0.2% decline.Zacks Investment Research
Image Source: Zacks Investment Research
XENE's Pipeline Updates
In March 2026, Xenon announced positive top-line data from the phase III X-TOLE2 study, which evaluated its lead pipeline candidate, azetukalner, for treating focal onset seizures (FOS).
The X-TOLE2 study evaluated the efficacy, safety and tolerability of 15 mg and 25 mg doses of azetukalner, given with food as an add-on treatment in patients with FOS. The study met its primary endpoint, showing a median percent change (MPC) in monthly FOS frequency from baseline to week 12 for both the 15 mg and 25 mg doses of azetukalner versus placebo.
The placebo-adjusted MPC in the 25 mg group was -42.7%, which was better than the data from the earlier phase IIb X-TOLE study, in which the 25 mg dose showed a placebo-adjusted MPC of -34.6% over eight weeks. Treatment with azetukalner was generally well tolerated and demonstrated a safety profile similar to that seen in previous studies.
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Xenon plans to submit a new drug application to the FDA seeking approval for azetukalner to treat FOS in the third quarter of 2026. If approved, azetukalner would become the only KV7 potassium channel opener available for treating epilepsy.
The identical phase III X-TOLE3 study is currently enrolling patients and is intended to support potential regulatory submissions for azetukalner for FOS in ex-U.S. jurisdictions. XENE is also evaluating azetukalner for primary generalized tonic-clonic seizures in a phase III X-ACKT study, which is currently enrolling patients.
Xenon’s first two of three planned phase III clinical studies, X-NOVA2 and X-NOVA3, evaluating azetukalner in patients with MDD, are currently underway, with top-line data from X-NOVA2 expected in the first half of 2027.
XENE’s first of two phase III clinical studies, X-CEED, evaluating azetukalner in patients with BPD I or II, is also currently ongoing.
Xenon has initiated two separate early-stage studies evaluating XEN1120 and XEN1701 in healthy adult participants, targeting Kv7 and Nav1.7, respectively. Both studies are expected to be completed in the second half of 2026, potentially supporting the initiation of separate phase II proof-of-concept studies in acute pain.
XENE, in collaboration with Neurocrine Biosciences, is currently evaluating NBI-921355, a Nav1.2/1.6 inhibitor, in a phase I study as a potential treatment for certain types of epilepsy. Top-line data is expected in 2027.
Xenon Pharmaceuticals Inc. Price, Consensus and EPS SurpriseXenon Pharmaceuticals Inc. Price, Consensus and EPS Surprise
Xenon Pharmaceuticals Inc. price-consensus-eps-surprise-chart | Xenon Pharmaceuticals Inc. Quote
XENE's Zacks Rank & Stocks to Consider
Xenon currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Amarin Corporation AMRN and Liquidia Corporation LQDA, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Amarin’s 2026 loss per share have narrowed from $7.01 to $6.36. Over the same period, loss per share estimates for 2027 have also narrowed from $5.50 to $4.64. AMRN shares have risen 5.9% year to date.
Amarin’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 50.02%.
Over the past 60 days, estimates for Liquidia Corporation’s 2026 earnings per share have declined from $2.14 to $1.75. Over the same period, EPS estimates for 2027 have decreased from $3.79 to $2.91. LQDA shares have gained 22.6% year to date.
Liquidia Corporation’s earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining occasions, with the average surprise being 39.38%.
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- BEAM's Q1 Loss Wider Than Expected, Revenues Beat Estimates
May 8, 2026
Beam Therapeutics BEAM incurred a loss of 91 cents per share in the first quarter of 2026, wider than the Zacks Consensus Estimate of a loss of 87 cents. The company had reported a loss of $1.23 per share in the year-ago quarter.
Revenues totaled $31.7 million, beating the Zacks Consensus Estimate of $21 million. The company had recorded revenues of $7.4 million in the year-ago quarter. The top line primarily comprises license and collaboration revenues.
Year to date, shares of Beam Therapeutics have risen 13.5% against the industry’s 0.2% decline.Zacks Investment Research
Image Source: Zacks Investment Research
BEAM's Q1 Results in Detail
Research and development expenses were $104.5 million in the first quarter, up 5.8% from the year-ago quarter.
General and administrative expenses surged 23.2% year over year to $34.4 million.
As of March 31, 2026, Beam Therapeutics had cash, cash equivalents and marketable securities worth $1.21 billion compared with $1.25 billion as of Dec. 31, 2025. The company expects its cash position, including the initial $100 million received and an anticipated additional $100 million from its financing agreement with Sixth Street, to support operations into mid-2029.
BEAM's Pipeline Updates
Beam Therapeutics is developing its leading ex-vivo genome-editing candidate, risto-cel, in the phase I/II BEACON study for the treatment of patients with SCD, an inherited blood disorder.
The company presented updated data from the BEACON study in December 2025, which continued to show evidence of risto-cel’s differentiated treatment profile in SCD patients. BEAM plans to submit a biologics licensing application (BLA) for risto-cel by the end of 2026.
Beam Therapeutics is also expanding its genetic disease pipeline by developing BEAM-301 and BEAM-302 for the treatment of glycogen storage disease type 1a (GSD1a) and alpha-1 antitrypsin deficiency (AATD), respectively.
BEAM-301 is being evaluated in a phase I/IIdose-exploration study in patients with GSDIa. Initial data from the study are expected in 2026.
The company is developing BEAM-302 in an ongoing phase I/II dose-escalation study for the treatment of AATD. In March, BEAM announced positive updated data from the study showing that BEAM-302 produced durable increases in functional AAT levels, significant reductions in mutant Z-AAT and generation of corrected M-AAT with a favorable safety profile across single doses up to 75 mg.
Following the FDA feedback, Beam Therapeutics aims to pursue an accelerated approval pathway for BEAM-302 and plans to initiate a global pivotal expansion cohort in the second half of 2026. The study is expected to enroll around 50 additional patients with AATD-related lung disease to support a future BLA filing.
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Dosing in the ongoing phase I healthy volunteer study, evaluating BEAM-103, an anti-CD117 monoclonal antibody for the treatment of SCD, is expected to be completed in the first half of 2026.
The company expanded its liver-targeted genetic disease franchise with BEAM-304 for the treatment of phenylketonuria and plans to file an investigational new drug application with the FDA in 2026.
Beam Therapeutics Inc. Price, Consensus and EPS SurpriseBeam Therapeutics Inc. Price, Consensus and EPS Surprise
Beam Therapeutics Inc. price-consensus-eps-surprise-chart | Beam Therapeutics Inc. Quote
BEAM’s Zacks Rank & Stocks to Consider
Beam Therapeutics currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the biotech sector are Amarin Corporation AMRN, Indivior Pharmaceuticals INDV and Liquidia Corporation LQDA, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Amarin’s 2026 loss per share have narrowed from $7.01 to $6.36. Over the same period, loss per share estimates for 2027 have also narrowed from $5.50 to $4.64. AMRN shares have risen 5.9% year to date.
Amarin’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 50.02%.
Over the past 60 days, estimates for Indivior Pharmaceuticals’ 2026 earnings per share have increased from $3.03 to $3.35. Over the same period, EPS estimates for 2027 have risen to $3.69 from $3.46. INDV shares have risen 10.4% year to date.
Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 65.44%.
Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have declined from $2.14 to $1.75. Over the same period, EPS estimates for 2027 have decreased from $3.79 to $2.91. LQDA shares have gained 22.6% year to date.
Liquidia’s earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining occasions, with the average surprise being 39.38%.
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- Insmed's Q1 Earnings Beat, Sales Miss Estimates, Stock Tanks 23%
May 8, 2026
Insmed INSM reported a first-quarter 2026 loss of 76 cents per share, which was narrower than the Zacks Consensus Estimate of a loss of 90 cents. In the year-ago quarter, the company posted a loss of $1.42.
Quarterly revenues soared 230% year over year to $306 million, entirely from the sales of its two marketed products. Yet, this figure missed the Zacks Consensus Estimate of $308.1 million.
More on Insmed’s Earnings
Insmed currently has two marketed drugs in its portfolio, Arikayce and Brinsupri. While Arikayce is approved to treat refractory mycobacterium avium complex (MAC) lung disease in adults with limited or no treatment options, Brinsupri is approved for non-cystic fibrosis bronchiectasis (NCFB).
Sales of Arikayce rose 6% year over year to $98.1 million, driven by strong growth across ex-U.S. markets.
This was the second full quarter in which Insmed generated revenues from Brinsupri sales since its approval in August 2025. The drug contributed $207.9 million to the top line during the quarter, up from $144.6 million in the previous quarter, driven by strong patient uptake.
Shares of Insmed declined 23% post the earnings announcement. Though the company’s top line registered significant year-over-year growth, investors were disappointed by the slight miss in consensus sales estimates. Sentiment was further impacted after management disclosed that part of Brinsupri’s strong initial launch demand came from “ready and waiting” (R&W) patients — those who were already aware of the drug before approval and began treatment quickly once it became available.
Management estimated that around 3,500 of the 9,000 patient additions in the fourth quarter and about 1,500 of the 7,800 starts in the first quarter came from the R&W group. This raised concerns among a few investors that some early demand may have been pulled forward from future quarters. At the conference call, however, Insmed stated that beginning in the second quarter of 2026, Brinsupri’s growth is expected to be driven primarily by organic demand rather than contributions from the R&W patient pool.
Year to date, the stock has lost 40% against the industry’s nil growth.Zacks Investment Research
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During the reported quarter, research and development expenses rose 37% year over year to $209.5 million. This uptick was driven by a rise in employee headcount, resulting in increased compensation and benefit-related expenses as well as higher clinical expenses.
Selling, general and administrative expenses amounted to $247.3 million, up 68%. This upside was driven by higher professional and external service costs, along with increased compensation and benefit-related expenses, to support the commercial launch for Brinsupri.
Story Continues
As of March 31, 2026, Insmed had cash, cash equivalents and marketable securities of around $1.2 billion compared with $1.4 billion as of Dec. 31, 2025.
INSM Reiterates 2026 Guidance
INSM expects product sales for Arikayce to be between $450 million and $470 million, indicating 6% year-over-year growth at the midpoint of the range.
The company projects Brinsupri sales to be at least $1 billion.
Updates on INSM’s Pipeline
Last month, Insmed reported disappointing results from the phase IIb CEDAR study, which evaluated Brinsupri in adults with moderate-to-severe hidradenitis suppurativa (HS). The study failed to meet both its primary and secondary endpoints. Based on this outcome, the company discontinued the drug’s development in HS.
This marks the second setback for Insmed’s efforts to expand Brinsupri’s label. In December, the drug failed a mid-stage study that evaluated it for chronic rhinosinusitis without nasal polyps (CRSsNP), which had already raised concerns about its efficacy beyond its approved indication.
On a positive note, Insmed reported encouraging top-line results in March from the late-stage ENCORE study, which evaluated Arikayce as a potential treatment for newly infected patients with MAC lung disease. The study met its primary and key secondary endpoints. Based on these results, the company plans to submit a regulatory filing to the FDA in the second half of 2026, which could significantly expand Arikayce’s addressable market.
Beyond Arikayce and Brinsupri, Insmed continues to advance its investigational treprostinil palmitil inhalation powder (TPIP) program across multiple pulmonary indications. The company is currently enrolling patients in the phase III PALM-ILD study evaluating TPIP in pulmonary hypertension associated with interstitial lung disease (PH-ILD). Insmed also recently initiated the phase III PALM-PAH study in pulmonary arterial hypertension (PAH). Additional late-stage studies in progressive pulmonary fibrosis (PPF) and idiopathic pulmonary fibrosis (IPF) are expected to begin by the end of 2026 and in the first half of 2027, respectively.
INSM’s Zacks Rank
Insmed currently carries a Zacks Rank #3 (Hold).
Insmed, Inc. PriceInsmed, Inc. Price
Insmed, Inc. price | Insmed, Inc. Quote
Our Key Picks Among Biotech Stocks
Some better-ranked stocks from the sector are Amarin Corporation AMRN and Indivior Pharmaceuticals INDV, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Amarin’s 2026 loss per share have narrowed from $7.01 to $6.36. Over the same period, loss per share estimates for 2027 have also narrowed from $5.50 to $4.64. AMRN shares have risen 6% year to date.
Amarin’s earnings beat estimates in three of the trailing four quarters but missed the mark on one occasion, delivering an average surprise of 50.02%.
Over the past 60 days, estimates for Indivior Pharmaceuticals’ 2026 EPS have increased from $3.03 to $3.35. Over the same period, EPS estimates for 2027 have risen to $3.69 from $3.46. INDV shares have risen 10% year to date.
Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 65.44%.
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Amarin Corporation PLC (AMRN) : Free Stock Analysis Report
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- IOVA Q1 Earnings Match Estimates, Sales Miss, Stock Down 13%
May 8, 2026 · zacks.com
Iovance matches Q1 earnings estimates, but weaker-than-expected Amtagvi and Proleukin sales sent shares down 13% despite revenue growth.
- Viatris Q1 EPS Beats Estimates, Revenues up 8% Driven by Greater China
May 7, 2026
Viatris Inc. VTRS delivered first-quarter 2026 adjusted earnings per share (EPS) of 59 cents, which comfortably beat the Zacks Consensus Estimate of 52 cents. The company recorded adjusted EPS of 50 cents in the year-ago quarter.
Total revenues were $3.5 billion, which rose 8% year over year (3% on an operational basis) and beat the Zacks Consensus Estimate of $3.35 billion.
The top line included product sales and other revenues.
VTRS’ shares have gained 28.1% year to date against the industry’s 11.7% decline.Zacks Investment Research
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All growth rates mentioned below are on a year-over-year basis.
VTRS’ Q1 Sales in Detail
Sales totaled $3.5 billion, up 8% year over year. Sales were up 3% on an operational basis (constant currency percentage changes).
The company reported under four segments — Developed Markets, Emerging Markets, Japan, Australia and New Zealand (“JANZ”), and Greater China.
Sales from Developed Markets amounted to $2 billion, up 7% on a reported basis and up 1% on an operational basis. The reported figure beat the Zacks Consensus Estimate of $1.96 billion.
Sales from Emerging Markets totaled $535.4 million, up 3%. The figure missed the Zacks Consensus Estimate of $571 million.
JANZ generated sales of $273.4 million, down 1% on a reported basis and down 2% on an operational basis. Sales beat the Zacks Consensus Estimate of $256 million.
Sales from Greater China totaled $680.1 million, up 22% on a reported basis and up 18% on an operational basis. The figure beat the Zacks Consensus Estimate of $589 million.
Based on product category, revenues from Brands increased 10% to $2.3 billion. On an operational basis, sales rose 4%, reflecting strong performance in Greater China and Emerging Markets.
Lipitor sales totaled $462 million, up from $388 million from a year ago. Norvasc sales increased to $210 million from $172.3 million a year ago. Lyrica sales increased to $120.6 million from $112.6 million.
Generics, which includes diversified product forms such as extended-release oral solids, injectables, transdermals, topicals and complex generics, posted revenues of $1.18 billion, up 5% on a reported basis. On an operational change basis, sales were up 1%.
The increase in generics’ sales reflects contributions from new product launches, in addition to growth of certain products in North America, partially offset by supply constraints in the ARV business within Emerging Markets.
Viatris generated $71 million in new generic product revenues and continues to expect approximately $450 million to $550 million in new product revenues in 2026.
Story Continues
Adjusted gross margin was 56% compared with 55.9% in the year-ago quarter.
VTRS Reaffirms 2026 Guidance
Total revenues are projected to be in the band of $14.450-$14.950 billion. Adjusted EPS is expected to be in the $2.33-$2.47 range.
Other Updates From VTRS
In March 2026, the company announced that Japan’s Ministry of Health, Labour and Welfare approved Effexor SR 37.5 mg and 75 mg capsules (venlafaxine hydrochloride), a serotonin-noradrenaline reuptake inhibitor, for the treatment of generalized anxiety disorder in adults.
Our Take on VTRS’ Q1 Performance
VTRS reported a strong start to 2026, with first-quarter results reflecting solid execution across its global operations and reinforcing management’s previously outlined growth strategy. The company highlighted continued momentum in key markets, particularly Greater China and North America, alongside progress on new product launches and advancement of its pipeline with several potential near-term catalysts.
Viatris Inc. Price, Consensus and EPS SurpriseViatris Inc. Price, Consensus and EPS Surprise
Viatris Inc. price-consensus-eps-surprise-chart | Viatris Inc. Quote
Management also emphasized expectations for robust cash generation in 2026, which will likely support Viatris’ balanced capital allocation strategy. Backed by its strong quarterly performance, the company reiterated confidence in achieving its full-year guidance and remains focused on building a more durable, higher-quality growth profile over the long term.
VTRS’ Zacks Rank & Stocks to Consider
Viatris currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Agenus AGEN, Liquidia Corporation LQDA, and Amarin AMRN, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Agenus’ 2026 earnings per share have risen from 54 cents to $1.30, while loss per share estimates for 2027 have narrowed from $1.91 to $1.52 during the same time frame. AGEN shares have soared 18.1% year to date.
Agenus’ earnings beat estimates in two of the trailing four quarters and missed in the other two, with the average surprise being 31.42%.
Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have decreased to $1.75 from $2.14, while those for 2027 EPS have declined to $2.91 from $3.79.
Liquidia’s earnings beat estimates in two of the trailing four quarters and missed in the other two, with the average surprise being 39.38%.
Over the past 60 days, 2026 loss per share estimates for Amarin have narrowed from $7.01 to $6.36, while the same for 2027 loss has narrowed from $5.50 to $4.64 during the same time frame. AMRN stock has risen 6.6% year to date.
Amarin's earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 50.02%.
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Agenus Inc. (AGEN) : Free Stock Analysis Report
Amarin Corporation PLC (AMRN) : Free Stock Analysis Report
Liquidia Corporation (LQDA) : Free Stock Analysis Report
Viatris Inc. (VTRS) : Free Stock Analysis Report
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