The third-quarter reporting cycle is off to an average start. Moreover, though estimates for the period moved south ahead of the earnings season, the actual results to date have been better relative to lowered estimates.The Medical sector comprises pharma/biotech and medical device companies. The Earnings Trends shows that the companies from this sector, which reported until Oct 16 and constitute nearly 23% of the sector’s market capitalization, delivered 6.2% earnings growth and a 5.4% sales rise year over year. Overall, third-quarter earnings and sales growth of this sector is expected to be 0.3% and 5.4%, respectively. The beat ratio for earnings as well as for revenues were 66.7%.Two pharma bigwigs, namely Johnson & Johnson JNJ and Novartis NVS already reported respective third-quarter results. Both J&J and Novartis beat on earnings and sales. Moreover, J&J raised its financial outlook for the year. Importantly, the company’s Pharma segment delivered a surprising sales increase despite currency headwinds and the impact of biosimilar and generic competition on the sales of its few key drugs like Remicade and Zytiga.Let’s take a look at the four pharma/biotech companies that are set to report third-quarter 2019 results on Oct 23.What the Model SuggestsThe proven Zacks model predicts an earnings beat for a stock with a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). The combination increases the chances of a likely positive surprise. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Eli Lilly and Company LLYLilly, which is scheduled to release earnings before the market opens, delivered a positive earnings surprise of 2.74% in the last reported quarter. The company’s earnings performance has been mixed so far with the company surpassing on expectations thrice in the trailing four quarters, the average beat being 0.69%.For the quarter to be reported, Lilly has an Earnings ESP of -3.19% and a Zacks Rank #3. The Zacks Consensus Estimate is pegged at $1.41 per share.Like the previous few quarters, strong demand for Lilly’s new products is likely to have driven sales in the third quarter, making up for the decline in sales of established products like Cialis due to loss of exclusivity and the impact of Lartruvo’s impending product withdrawal. (Read more: Can New Drugs Help Lilly to Deliver Solid Q3 Earnings?)Eli Lilly and Company Price and EPS Surprise Eli Lilly and Company price-eps-surprise | Eli Lilly and Company QuoteAlexion Pharmaceuticals, Inc. ALXNAlexion, which is scheduled to release earnings before the opening bell, delivered a positive earnings surprise of 11.86% in the last reported quarter. The company beat on earnings in each of the last four quarters, the average being 13.34%.For the to-be-reported quarter, Alexion has an Earnings ESP of +1.22% and a Zacks Rank of 3. The Zacks Consensus Estimate stands at $2.49 per share. You can see the complete list of today’s Zacks #1 Rank stocks here.Alexion’s key growth driver Soliris is likely to have performed well and contributed to significant revenues in the third quarter. Label expansion into additional indications provided Soliris with easy access to a higher patient population, which in turn, boosted its commercial potential substantially. Moreover, Alexion’s long-acting C5 complement inhibitor Ultomiris has seen strong sequential growth in the last reported quarter. We expect sales to further increase in third-quarter results. (Read more: Will Soliris Aid Growth for Alexion in Q3 Earnings?)Alexion Pharmaceuticals, Inc. Price and EPS Surprise Alexion Pharmaceuticals, Inc. price-eps-surprise | Alexion Pharmaceuticals, Inc. QuoteBioMarin Pharmaceutical Inc. BMRNBioMarin is scheduled to release earnings, after the market closes. The company’s earnings beat estimates in two of the last four quarters and missed the same twice, the average negative surprise being 38.45%. In the last reported quarter, BioMarin witnessed a negative earnings surprise of 47.06%.The company has an Earnings ESP of +2.32% and a Zacks Rank #4 (Sell). The Zacks Consensus Estimate stands at earnings of 34 cents per share.Sales of BioMarin’s key orphan disease drug Kuvan is likely to have benefited from strong demand trends in the third quarter. Its newest product Palynziq is witnessing a strong commercial uptake in the United States and has seen a strong sequential growth trend in the last reported quarter. We expect sales to further rise in the third quarter, attributable to new patients initiating therapy in the United States.The company has a robust rare disease pipeline with several data readouts lined up in the coming quarters. We can expect an update on its pipeline development progress during the upcoming third-quarter investor call.BioMarin Pharmaceutical Inc. Price and EPS Surprise BioMarin Pharmaceutical Inc. price-eps-surprise | BioMarin Pharmaceutical Inc. QuoteAlkermes plc ALKSAlkermes is scheduled to release earnings before the market opens. The company’s surprise track has been impressive so far, having delivered an earnings beat in each of the trailing four quarters, the average being 270.97%. In the last reported quarter, Alkermes came up with a positive surprise of 190.00%.This time around, Alkermes has an Earnings ESP of -40.61% and is Zacks #3 Ranked. The Zacks Consensus Estimate is pegged at a loss of 21 cents per share.Alkermes’ revenues are being perked up by its proprietary products Vivitrol and Aristada and the partnered products, namely Risperdal Consta, Invega Sustenna/Xeplion, Invega Trinza/Trevicta and Bydureon. These products are likely to have fared well and generated significant revenues in the third quarter as well.However, one of its partnered products Ampyra saw declining sales of late due to the entry of generics into the market in 2018, a trend that most likely continued in the quarter to be reported.Alkermes plc Price and EPS Surprise Alkermes plc price-eps-surprise | Alkermes plc Quote7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers “Most Likely for Early Price Pops.”Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.50% per year. So be sure to give these hand-picked 7 your immediate attention.See them now >>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 Eli Lilly and Company (LLY): Free Stock Analysis Report Novartis AG (NVS): Free Stock Analysis Report Johnson & Johnson (JNJ): Free Stock Analysis Report Alkermes plc (ALKS): Free Stock Analysis Report Alexion Pharmaceuticals, Inc. (ALXN): Free Stock Analysis Report BioMarin Pharmaceutical Inc. (BMRN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research