Targacept Earnings: Everything You Must Know Now
Targacept, Inc. (NASDAQ:TRGT) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Targacept, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.47 in the quarter versus EPS of $-0.29 in the year-earlier quarter.
Revenue: Decreased 96.89% to $590,000 from the year-earlier quarter.
Actual vs. Wall St. Expectations: Targacept, Inc. reported adjusted EPS loss of $-0.47 per share. By that measure, the company missed the mean analyst estimate of $-0.31. It beat the average revenue estimate of $0.
Quoting Management:“I’m excited to be part of Targacept and appreciate the opportunity to lead a company built on impressive science, with an exceptional and resilient team committed to developing innovative therapies that have the potential to make a real difference for patients,” said Dr. Stephen A. Hill, Targacept’s President and Chief Executive Officer. “We have a strong pipeline of Phase 2b programs representing three distinct nicotinic receptor mechanisms targeting areas where the unmet need is great and current therapies, where they exist at all, are limited. We are fortunate to have a capital base that will support our business needs through and beyond important clinical outcomes, any one of which could be transformative.”
Key Stats (on next page)…
Revenue decreased 23.38% from $770,000 in the previous quarter. EPS decreased to $-0.47 in the quarter versus EPS of $-0.24 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0.29 and has not changed. For the current year, the average estimate is a loss of $0.04, which is the same with that ninety days ago.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)