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)…