The Q1 earnings cycle is nearing its end, with approximately 88% of the total S&P 500 members expected to have reported quarterly numbers by the end of today. As per our Earnings Trend report, as of May 4, 2016, approximately 75% of the index’s total membership or roughly 374 members have already reported results. Out of these companies, 71.4% were able to beat on earnings, while 56.4% outpaced top-line estimates. Moreover, approximately 47.1% of them managed to exceed both sales and earnings expectations. This is perhaps because of already lowered investor expectations since the beginning of the earnings cycle. The recent decline in the U.S. dollar should have also aided matters. As a result, although estimates for the second quarter are still witnessing downward revisions, the decline is not as severe as last quarter.The Medical sector is one of the seven sectors poised to record earnings growth this season. Even amid headwinds like unfavorable foreign exchange rates, biosimilars and generic competition, 67.5% of the companies have surpassed both revenues and earnings estimates in the first quarter so far (as of May 4, 2016). Johnson & Johnson JNJ kick-started the earnings season on a positive note, wherein its earnings beat estimates and the company raised its outlook for the year. Abbott Laboratories ABT followed suit. Swiss oncology major Novartis NVS, however, missed estimates. On the other hand, biotech majors Biogen BIIB and Amgen AMGN topped expectations too, while industry bigwig, Gilead Sciences’ GILD first-quarter results disappointed investors.However, a few companies are still yet to report quarterly numbers. Let’s see what we can expect from a few drug stocks reporting earnings early next week.FibroGen, Inc. FGEN is scheduled to report first-quarter 2016 results on May 9 after the market closes. This biopharmaceutical company utilizes its extensive experience in fibrosis and hypoxia-inducible factor (HIF) biology to develop programs in multiple therapeutic areas. The company does not have any approved products in its portfolio yet and hence we expect investor focus on pipeline updates. With a Zacks Rank #4 (Sell) and an Earnings ESP of 0.00%, the company is unlikely to beat estimates this quarter. Its track record has been dismal as well, with the company reporting wider-than-expected losses over the last two quarters.Ironwood Pharmaceuticals, Inc. IRWD is also scheduled to report first-quarter 2016 results on May 9. This biotechnology company is focused on the development and commercialization of treatments primarily addressing gastrointestinal (GI) diseases. However, its track record has been disappointing, as the company reporting wider-than-expected losses in three of the last four quarters. Ironwood currently has a Zacks Rank #3 (Hold) and an Earnings ESP of -14.29%, which makes surprise prediction difficult.Enanta Pharmaceuticals, Inc., ENTA is scheduled to report second-quarter fiscal 2016 (ended Mar 31, 2016) results on May 9. The company focuses its research and development efforts primarily on four areas – hepatitis C virus, hepatitis B virus, non-alcoholic steatohepatitis and respiratory syncytial virus. Enanta Pharmaceuticals has a mixed track record so far, with the company beating estimates in two of the last four quarters and missing the same on two occasions. It currently has a Zacks Rank #3 and an Earnings ESP of 0.00%, which makes surprise prediction difficult.Flamel Technologies FLML is scheduled to report first-quarter on May 9, 2016 before the market opens. This specialty pharmaceutical company has a mixed track record, as it beat estimates in two of the last four quarters and missed the same on two occasions. The combination of Flamel’s Zacks Rank #3 and Earnings ESP of 0.00% makes surprise prediction difficult.Stay tuned and check later on our full write-up on earnings releases of these stocks! Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NOVARTIS AG-ADR (NVS): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report ABBOTT LABS (ABT): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report BIOGEN INC (BIIB): Free Stock Analysis Report IRONWOOD PHARMA (IRWD): Free Stock Analysis Report FLAMEL TECH (FLML): Free Stock Analysis Report ENANTA PHARMA (ENTA): Free Stock Analysis Report FIBROGEN INC (FGEN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research