News
The day at a glance · 3 min read
Mood · Risk-On
+62
Sentiment, −100 to +100
Medicare exits
390,000
Earnings Season Spotlight
TMO YTD gain
11%+11%
Earnings Season Spotlight
Pfizer forward P/E
9.6x
Big Pharma Valuation Divergence
Key driverBiotech rally led by Moderna's positive Phase 3 melanoma vaccine results and index inclusion, with major healthcare earnings releases starting this week
Daily briefHealthcare· Money365.Market AI ·

Healthcare Earnings Week Kicks Off Amid Biotech Rally

UnitedHealth and Johnson & Johnson report this week as Moderna surges on cancer vaccine progress and Nasdaq-100 reinstatement

Earnings Season Spotlight

Neutral
01UNH▲ +2.25%
UnitedHealth Group (UNH) will report earnings before market hours, with coverage noting that 390,000 seniors face a Medicare plan exit and a federal protection program has opened for affected retirees with a limited enrollment window.
02JNJ
Johnson & Johnson (JNJ) reports third-quarter results this week, with analysts expecting modest revenue growth and lower earnings according to coverage from Koyfin analysts.
03TMO
Thermo Fisher Scientific (TMO) shares have surged 11% year-to-date as the life-sciences tools market shows signs of recovery, though questions remain whether earnings growth can justify the premium valuation following the rally.

Big Pharma Valuation Divergence

Neutral

Pfizer 2026 EPS guidance

$2.80-$3.00

Merck YTD gain

38%+38%

Merck target (mid)

$164

Gilead YTD gain

24%+24%

S&P 500 YTD

14%+14%

Gilead forward P/E

15.5x
01PFE
Pfizer (PFE) (common stock) trades at roughly 9.6 times forward adjusted earnings based on the midpoint of the company's 2026 adjusted diluted EPS guidance range of $2.80 to $3.00, though the stock has barely rewarded shareholders over the past year.
02MRK▲ +2.26%
Merck (MRK) (common stock) has surged 38% in 2026 despite flat near-term earnings, with shares closing at and a mid-range target price of approximately $164 compared to a Street target of approximately $158, representing potential total return of approximately 13%.
03GILD▲ +2.77%
Gilead Sciences (GILD) (common stock) has surged 24% since the start of the year, compared with a 14% return for the S&P 500, with the stock's normalized forward P/E at approximately 15.5 times according to Yahoo Finance.

Biotech & Oncology Advances

Bullish

Moderna gain

18.4%+18.4%
01MRNA▲ +14.21%
Moderna (MRNA) (common stock) gained 18.4% following its reinstatement to the Nasdaq-100 index and the announcement that former manufacturing leader Juan Andres would return as Chief Operating Officer to oversee scaling for its personalized cancer vaccine candidate, intismeran autogene, following positive Phase 3 melanoma results.
02ABBV
AbbVie (ABBV) presented 22 scientific abstracts from its inflammatory bowel disease portfolio at the American College of Gastroenterology 2026 Annual Scientific Meeting, including newly unveiled AFFIRM results showing efficacy for SKYRIZI (risankizumab-rzaa) in advanced therapy-naïve Crohn's disease patients and open-label extension analyses demonstrating long-term outcomes with SKYRIZI.
03ABT
Abbott Laboratories (ABT) (common stock) passes key quality investing filters with strong return on invested capital, cash-backed earnings, and steady growth, though valuation and liquidity risks remain according to ChartMill analysis.

Eli Lilly pullback

8%-8%
01JNJ
Johnson & Johnson (JNJ) subsidiary Atraverse Medical has been sued by Boston Scientific over alleged patent infringement tied to a cardiology device, with the complaint focusing on technology used in a key heart procedure tool that Boston Scientific claims is protected by its existing patents, seeking court relief that could affect Atraverse Medical's ability to make or sell the contested device.
02LLY
Eli Lilly (LLY) (common stock) experienced a recent 8% pullback, though coverage suggests this retreat is not a sign of a broken investment thesis.
03BMY
Bristol Myers Squibb (BMY) celebrated the 12th edition of its annual Global Patient Week in the Kingdom of Saudi Arabia, joining forces with the Saudi Schizophrenia Association 'Ehtiwaa' to support individuals living with schizophrenia through the 'Small Wins: Everyday Activity' wellness initiative.

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