Biopharma Pricing Power Seen as Key Swing Factor for Q2 Earnings, BofA Says

MT Newswires Live01:01

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

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