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Achillion (ACHN) Reports Narrower-Than-Expected Q3 Loss
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Achillion Pharmaceuticals, Inc. reported a loss of 15 cents per share in the third quarter of 2016, narrower than the Zacks Consensus Estimate loss of 16 cents. In the year-ago quarter the company reported a gain of 19 cents per share. Despite the bottom-line results, shares of Achillion lost 27.2% following its third-quarter release.
The company did not generate any revenue in the reported quarter, while a year ago it had generated revenues of $33.8 million. In the third quarter of 2015, Achillion and Janssen, a subsidiary of Johnson & Johnson (JNJ - Free Report) , closed a collaboration agreement under which Achillion transferred the worldwide rights to develop and commercialize HCV products and regimens containing one or more of its HCV assets to Janseen. In the third quarter of 2015, Achillion recognized some revenues under the agreement, which is a portion of the premium paid by Janseen.
Research and development expenses increased 39.1% from the year-ago period to $12 million, reflecting increased manufacturing, clinical trial and consulting costs related to ACH-4471, partially offset by decreased costs related to the HCV compounds that were licensed to Janssen in 2015.
General and administrative expenses were down by a marginal 2% to $4.8 million, reflecting lower business consulting and corporate legal fees related to the Janssen agreement, partially offset by higher personnel and non-cash stock compensation largely related to an increase in personnel.
Achillion currently carries a Zacks Rank #2 (Buy). A couple of favorably placed stocks in the health care sector include Anika Therapeutics Inc. (ANIK - Free Report) and Cambrex Corporation . Each of these stocks sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Anika’s earnings estimates have increased from $1.96 to $2.06 for 2016 and from $2.03 to $2.09 for 2017 over the last 60 days. The company has posted a positive earnings surprise in all of the four trailing quarters with an average beat of 33.1%. Its share price has increased 9.4% year to date.
Cambrex’s earnings estimates have increased from $2.46 to $2.60 for 2016 and for 2017 estimates remained unchanged over the last 60 days. The company has posted a positive earnings surprise in three of the four trailing quarters with an average beat of 19.8%.
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Achillion (ACHN) Reports Narrower-Than-Expected Q3 Loss
Achillion Pharmaceuticals, Inc. reported a loss of 15 cents per share in the third quarter of 2016, narrower than the Zacks Consensus Estimate loss of 16 cents. In the year-ago quarter the company reported a gain of 19 cents per share. Despite the bottom-line results, shares of Achillion lost 27.2% following its third-quarter release.
The company did not generate any revenue in the reported quarter, while a year ago it had generated revenues of $33.8 million. In the third quarter of 2015, Achillion and Janssen, a subsidiary of Johnson & Johnson (JNJ - Free Report) , closed a collaboration agreement under which Achillion transferred the worldwide rights to develop and commercialize HCV products and regimens containing one or more of its HCV assets to Janseen. In the third quarter of 2015, Achillion recognized some revenues under the agreement, which is a portion of the premium paid by Janseen.
Research and development expenses increased 39.1% from the year-ago period to $12 million, reflecting increased manufacturing, clinical trial and consulting costs related to ACH-4471, partially offset by decreased costs related to the HCV compounds that were licensed to Janssen in 2015.
General and administrative expenses were down by a marginal 2% to $4.8 million, reflecting lower business consulting and corporate legal fees related to the Janssen agreement, partially offset by higher personnel and non-cash stock compensation largely related to an increase in personnel.
ACHILLION PHARM Price, Consensus and EPS Surprise
ACHILLION PHARM Price, Consensus and EPS Surprise | ACHILLION PHARM Quote
Zacks Rank & Key Picks
Achillion currently carries a Zacks Rank #2 (Buy). A couple of favorably placed stocks in the health care sector include Anika Therapeutics Inc. (ANIK - Free Report) and Cambrex Corporation . Each of these stocks sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Anika’s earnings estimates have increased from $1.96 to $2.06 for 2016 and from $2.03 to $2.09 for 2017 over the last 60 days. The company has posted a positive earnings surprise in all of the four trailing quarters with an average beat of 33.1%. Its share price has increased 9.4% year to date.
Cambrex’s earnings estimates have increased from $2.46 to $2.60 for 2016 and for 2017 estimates remained unchanged over the last 60 days. The company has posted a positive earnings surprise in three of the four trailing quarters with an average beat of 19.8%.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>