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3 Pharma Stocks' Post-Earnings Price Moves

4 8 1
04.08.2022

The health care sector is just barely participating in the S&P 500's nascent rally, but pharmaceuticals such as AbbVie (NYSE:ABBV), Merck (NYSE:MRK) and Pfizer (NYSE:PFE) are holding up well relative to the broader market.

All three reported earnings recently, and while none got a bounce, all are holding above previous structure lows.

As a whole, the health care sector has notched a return of 0.98% in the past month, as tracked by the Health Care Select Sector SPDR ETF (NYSEARCA: XLV). Although the sector is boasting gains, it still lags every other sector in the past month.

AbbVie, whose top revenue-generating drug is rheumatoid arthritis treatment Humira, earned $3.37 in the second quarter on revenue of $14.6 billion. Those were year-over-year increases of 11% and 4%, respectively.

The company's revenue has slowed since December 2020. One reason for caution: AbbVie's exclusive marketing for Humira is ending, as generic versions of the drug will be hitting the market.........

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