Furiex Pharmaceuticals Earnings: Here’s Why Investors are Not Happy Now
Furiex Pharmaceuticals, Inc. (NASDAQ:FURX) delivered a profit 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 down 1.96%.
Furiex Pharmaceuticals, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.82 in the quarter versus EPS of $-0.98 in the year-earlier quarter.
Revenue: Rose 1384.15% to $39.33 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Furiex Pharmaceuticals, Inc. reported adjusted EPS income of $0.82 per share. By that measure, the company beat the mean analyst estimate of $0.79. It beat the average revenue estimate of $33.42 million.
Quoting Management: “Our lead program, eluxadoline, remains on track for a mid-2014 NDA submission”, said June Almenoff, M.D., Ph.D., president and chief medical officer of Furiex, “as of May, we had achieved over 70% of the target enrollment needed to complete the two pivotal studies”.
Key Stats (on next page)…
Revenue increased 327.04% from $9.21 million in the previous quarter. EPS increased to $0.82 in the quarter versus EPS of $-0.90 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 $1.07 to a loss $1.14. For the current year, the average estimate has moved up from a loss of $1.75 to a loss of $1.63 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)