Esperion (ESPR) Beats Fourth Quarter Earnings, Product Sales Rise 49%

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Esperion Therapeutics, Inc. ESPR suffered a loss of $1.77 per share for the fourth quarter of 2021, significantly below Zacks’ consensus estimate of a loss of $2.32 per share. The company had posted a loss of $3.89 per share in the prior year period.

The company generated revenue of $15.4 million, up nearly 60% year-over-year. Revenue also topped Zacks’ consensus estimate of $14.5 million.

Shares of Esperion rose 13.5% on Feb. 22 following strong quarterly results. However, Esperion’s stock has lost 84.7% over the past year to the industrydown 32.2%.

Image source: Zacks Investment Research

Quarter in detail

Esperion has two FDA-approved drugs – Nexletol and Nexlizet – in its commercial portfolio approved for the treatment of high levels of LDL-C (bad cholesterol). These two drugs are marketed under the names Nilemdo and Nustendi in Europe and in several other markets outside the United States in partnership with Daiichi Sankyo. Esperion records royalties on the sales of its drugs in Europe.

Product revenue, from the United States alone, was $12.2 million in the fourth quarter, up 49.3% year-over-year. Product revenue increased 11.9% sequentially. The company said prescriptions for its drugs were up 9% year-over-year.

The company recorded royalty revenue of $0.8 million in the current quarter, compared to $1.2 million in the prior quarter. The item was included in Collaboration revenue, which was $3.2 million in the fourth quarter, compared to $1.5 million in the year-ago quarter.

Research and development (R&D) expenses decreased 34.2% from the same period a year earlier to $27.6 million due to a decline in the contract research and compensation expenses.

Selling, general and administrative (SG&A) expenses decreased 37.7% year over year to $38.3 million due to lower promotional and sales compensation expenses.

As of December 31, 2021, Esperion had cash, cash equivalents, restricted cash and investment securities of $309.3 million, compared to cash, cash equivalents and short-term investments of $323 million. dollars as of September 30, 2021.

Annual results

Esperion reported revenue of $78.4 million compared to $227.5 million in 2020. The company had one-time collaboration revenue from its partnerships in 2020, which was absent in 2021 and resulted in a significant drop in revenue . However, product sales have increased over 200% year over year.

The company’s loss for 2021 was $9.31 per share, higher than the prior year’s loss of $5.23 per share.

Orientation 2022

Esperion maintained its forecast for R&D and SG&A costs in 2022 provided in January. The company expects 2022 R&D spending to be between $100 million and $110 million, while SG&A spending is expected to be between $120 million and $130 million.

Esperion Therapeutics, Inc. Price, Consensus, and EPS Surprise

Esperion Therapeutics, Inc. Price, Consensus, and EPS Surprise

Esperion Therapeutics, Inc. price-consensus-eps-surprise-chart | Quote from Esperion Therapeutics, Inc.

Zacks Ranking and Stocks to Consider

Esperion currently wears a Zacks Rank #3 (Hold).

Some higher ranked stocks in the same sector include Pharmaceutical College COLLAR, Pharmaceutical catalyst CPRX, and Gamide cell GMDA. While Collegium sports a Zacks rank #1 (strong buy), Catalyst and Gamida carry a Zacks rank #2 (buy). You can see the full list of today’s Zacks #1 Rank stocks here.

Earnings per share estimates for Collegium have risen from $3.52 to $5.86 for 2022 in the past 30 days. COLL has gained 18.8% since the start of the year.

Collegium has recorded a negative earnings surprise of 22.76%, on average, over the past four quarters.

Catalyst earnings per share estimates have risen from 50 cents to 69 cents for 2022 in the past 30 days. CPRX is up 9.9% so far this year.

Catalyst has made a surprise profit of 30.56%, on average, over the past four quarters.

Gamida’s per-share loss estimates have risen from $1.83 to $1.35 for 2022 in the past 30 days. The GMDA is up 25.2% so far this year.

Gamida has delivered a negative earnings surprise of 22.6%, on average, over the past four quarters.

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Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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