Q3 Earnings Highs And Lows: AbbVie (NYSE:ABBV) Vs The Rest Of The Therapeutics Stocks

As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the therapeutics industry, including AbbVie (NYSE:ABBV) and its peers.

Over the next few years, therapeutic companies, which develop a wide variety of treatments for diseases and disorders, face strong tailwinds from advancements in precision medicine (including the use of AI to improve hit rates) and growing demand for treatments targeting rare diseases. However, headwinds such as rising scrutiny over drug pricing, regulatory unknowns, and competition from larger, more resourced pharmaceutical companies could weigh on growth.

The 11 therapeutics stocks we track reported a mixed Q3. As a group, revenues beat analysts’ consensus estimates by 10.5%.

Luckily, therapeutics stocks have performed well with share prices up 15.5% on average since the latest earnings results.

AbbVie (NYSE:ABBV)

Born from a 2013 spinoff of Abbott Laboratories' pharmaceutical business, AbbVie (NYSE:ABBV) is a biopharmaceutical company that develops and markets medications for autoimmune diseases, cancer, neurological disorders, and other complex health conditions.

AbbVie reported revenues of $15.78 billion, up 9.1% year on year. This print exceeded analysts’ expectations by 1.2%. Despite the top-line beat, it was still a mixed quarter for the company with a narrow beat of analysts’ constant currency revenue estimates but a miss of analysts’ full-year EPS guidance estimates.

"AbbVie continues to deliver outstanding results, with significant momentum across key areas of our portfolio. We are also making great progress advancing our pipeline and investing in innovation to support AbbVie's long-term growth," said Robert A. Michael, chairman and chief executive officer, AbbVie.

Unsurprisingly, the stock is down 4.2% since reporting and currently trades at $218.56.

Read our full report on AbbVie here, it’s free.

Best Q3: Halozyme Therapeutics (NASDAQ:HALO)

Known for transforming hours-long intravenous infusions into minutes-long subcutaneous injections, Halozyme Therapeutics (NASDAQ:HALO) develops and licenses its proprietary ENHANZE technology that enables subcutaneous delivery of injectable drugs that would otherwise require intravenous administration.

Halozyme Therapeutics reported revenues of $354.3 million, up 22.1% year on year, outperforming analysts’ expectations by 3.1%. The business had an exceptional quarter with full-year EBITDA guidance exceeding analysts’ expectations and an impressive beat of analysts’ full-year EPS guidance estimates.

Halozyme Therapeutics delivered the fastest revenue growth among its peers. The market seems happy with the results as the stock is up 9.9% since reporting. It currently trades at $72.76.

Is now the time to buy Halozyme Therapeutics? Access our full analysis of the earnings results here, it’s free.

Slowest Q3: United Therapeutics (NASDAQ:UTHR)

Founded by a mother seeking treatment for her daughter's pulmonary arterial hypertension, United Therapeutics (NASDAQ:UTHR) develops and commercializes medications for chronic lung diseases and other life-threatening conditions, with a focus on pulmonary hypertension treatments.

United Therapeutics reported revenues of $799.5 million, up 6.8% year on year, falling short of analysts’ expectations by 1.6%. It was a softer quarter as it posted a miss of analysts’ revenue estimates and a significant miss of analysts’ EPS estimates.

United Therapeutics delivered the weakest performance against analyst estimates in the group. Interestingly, the stock is up 12.5% since the results and currently trades at $467.15.

Read our full analysis of United Therapeutics’s results here.

Moderna (NASDAQ:MRNA)

Rising to global prominence during the COVID-19 pandemic with one of the first effective vaccines, Moderna (NASDAQ:MRNA) develops messenger RNA (mRNA) medicines that direct the body's cells to produce proteins with therapeutic or preventive benefits for various diseases.

Moderna reported revenues of $1.02 billion, down 45.1% year on year. This print topped analysts’ expectations by 32.2%. Aside from that, it was a satisfactory quarter as it also produced a beat of analysts’ EPS estimates but full-year revenue guidance missing analysts’ expectations significantly.

Moderna had the slowest revenue growth among its peers. The stock is up 92.8% since reporting and currently trades at $45.43.

Read our full, actionable report on Moderna here, it’s free.

Amgen (NASDAQ:AMGN)

Founded in 1980 during the early days of the biotechnology revolution, Amgen (NASDAQ:AMGN) is a biotechnology company that discovers, develops, and manufactures innovative medicines to treat serious illnesses like cancer, osteoporosis, and autoimmune diseases.

Amgen reported revenues of $9.56 billion, up 12.4% year on year. This result surpassed analysts’ expectations by 6.6%. Overall, it was a very strong quarter as it also put up a solid beat of analysts’ revenue estimates and full-year revenue guidance beating analysts’ expectations.

The stock is up 15.2% since reporting and currently trades at $341.75.

Read our full, actionable report on Amgen here, it’s free.

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