Avanir Pharmaceuticals Earnings: Here’s Why the Stock is Up Now
Avanir Pharmaceuticals (NASDAQ:AVNR) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.71%.
Avanir Pharmaceuticals Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.08 in the quarter versus EPS of $-0.11 in the year-earlier quarter.
Revenue: Rose 87.86% to $19.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Avanir Pharmaceuticals reported adjusted EPS loss of $0.08 per share. By that measure, the company beat the mean analyst estimate of $-0.11. It beat the average revenue estimate of $19.53 million.
Quoting Management: “Avanir continues to strengthen its position as a leading specialty biopharmaceutical company,” said Keith A. Katkin, president and CEO of Avanir. “With the NUEDEXTA franchise performing well in the U.S., a recent approval in Europe, meaningful progress with our pipeline assets and the in-licensing of an NDA-ready asset, AVP-825; we look forward to delivering on a number of exciting and potentially value-creating milestones in the coming months.”
Key Stats (on next page)…
Revenue increased 13.6% from $17.43 million in the previous quarter. EPS decreased to $-0.08 in the quarter versus EPS of $-0.12 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $0.02 to a loss $0.09. For the current year, the average estimate has moved down from a loss of $0.27 to a loss of $0.4 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)