Drugmaker Perrigo (PRGO) beat Wall Street’s Q4 expectations Thursday morning, sending the stock up 6% on the stock market today even though its 2015 guidance missed estimates. Sales for the quarter ended June 28 rose 18% over the year-earlier quarter to $1.14 billion, beating analysts’ consensus of $1.09 billion. Profit jumped 58% to $1.74 per share, excluding one-time items, topping the Street’s average estimate by 19 cents. The company did not
Biotech advances, new investments and merger activity have helped lift drugmakers like Alexion Pharmaceuticals (ALXN), Celgene (CELG) and Biogen Idec (BIIB) past the rest of the market, which has seen some ups and downs recently. Those companies as well as Perrigo (PRGO) and Actavis (ACT) are all on IBD’s Big Cap Screen of the Day, which features large stocks with strong earnings and price performance. Several also appear in IBD’s Leaderboard, a
Drugmakers Celgene (CELG) and Biogen Idec (BIIB) are among four big-cap drugmakers with deep pockets and proven product lines and processes. Today’s Screen Of The Day is Big Cap Leaders, top-rated large-cap stocks priced above 15. The four drugmakers on the Big Cap Leaders list include biotechs Celgene and Biogen Idec as well as generic drugmakers Actavis (ACT) and Perrigo (PRGO). Celgene and Actavis are also on the proprietary IBD Leaderboard