We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Catalyst (CPRX) Up 14.1% Since Last Earnings Report: Can It Continue?
Read MoreHide Full Article
It has been about a month since the last earnings report for Catalyst Pharmaceutical (CPRX - Free Report) . Shares have added about 14.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Catalyst due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Catalyst’s Q4 Earnings & Sales Top, Boosted by Firdapse
Catalyst Pharmaceuticals, Inc. reported earnings of 22 cents per share for the fourth quarter of 2022, marginally beating the Zacks Consensus Estimate of 21 cents. Earnings were also higher than our estimate of 19 cents. The company reported earnings of 9 cents in the year-ago quarter.
Adjusted earnings (adjusted for stock-based compensation, depreciation, amortization and tax provision) came in at 31 cents per share in the reported quarter compared with 13 cents a year ago. Adjusted earnings also beat our estimate of 28 cents per share.
Total revenues amounted to $60.8 million, beating both the Zacks Consensus Estimate of $59 million and our estimate of $55.3 million. Sales rose 58.6% from the year-ago quarter’s $38.3 million. The top line primarily comprised significant sales of Firdapse (amifampridine), the company’s first approved drug for the treatment of Lambert-Eaton myasthenic syndrome (LEMS) and nominal license and other revenues.
Quarter in Detail
Firdapse generated sales worth $60.7 million in the fourth quarter, up 58.6% year over year, primarily driven by organic sales growth of Firdapse and the transition of Ruzurgi patients to Firdapse treatment after the dispute settlement with Jacobus Pharmaceuticals. Firdapse sales beat our estimate of $55.2 million in the reported quarter.
License and other revenues were nominal at $0.07 million in the reported quarter, up from $0.04 million in the prior-year quarter.
Research and development expenses were $4.1 million, down from the $5 million reported in the year-ago quarter.
Selling, general and administrative expenses totaled $14.7 million, up from $13.2 million reported in the year-ago quarter.
As of Dec 31, 2022, CPRX had cash, cash equivalents and investments worth $298.3 million compared with $256.1 million as of Sep 30, 2022.
2022 Results
For the full year, the company reported earnings of 75 cents per share, up from 37 cents reported in the last year. Earnings beat both the Zacks Consensus Estimate of 73 cents per share and our estimate of 71 cents. Adjusted earnings came in at $1.02 per share, which is higher than the 55 cents recorded in the year December 2021. Adjusted earnings also beat our estimate of $1.00.
The total revenues recorded by Catalyst in 2022 is $214.20 million, up 52.1% from last year, but fell shy of the Zacks Consensus Estimate of $214.29 million. However, it beat our estimate of $208.7 million. Firdapse sales rose 55% in 2022 to $213.9 million, beating our estimate of $208.4 million.
2023 Guidance
Rolling into 2023, the company expects full-year 2023 total revenues to be in the range of $375 million to $385 million, marking a 75 increase in total revenues from 2022. This guidance also includes the revenues generated from the sales of Fycompa CIII, which is expected to be $130 million for the 11 months ending December 2023.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended upward during the past month.
The consensus estimate has shifted 9.38% due to these changes.
VGM Scores
At this time, Catalyst has a great Growth Score of A, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Catalyst has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Catalyst is part of the Zacks Medical - Drugs industry. Over the past month, Jazz Pharmaceuticals (JAZZ - Free Report) , a stock from the same industry, has gained 6.2%. The company reported its results for the quarter ended December 2022 more than a month ago.
Jazz reported revenues of $972.12 million in the last reported quarter, representing a year-over-year change of +8.4%. EPS of -$0.07 for the same period compares with $4.21 a year ago.
Jazz is expected to post earnings of $4.27 per share for the current quarter, representing a year-over-year change of +14.5%. Over the last 30 days, the Zacks Consensus Estimate has changed -2.6%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Jazz. Also, the stock has a VGM Score of C.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Catalyst (CPRX) Up 14.1% Since Last Earnings Report: Can It Continue?
It has been about a month since the last earnings report for Catalyst Pharmaceutical (CPRX - Free Report) . Shares have added about 14.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Catalyst due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Catalyst’s Q4 Earnings & Sales Top, Boosted by Firdapse
Catalyst Pharmaceuticals, Inc. reported earnings of 22 cents per share for the fourth quarter of 2022, marginally beating the Zacks Consensus Estimate of 21 cents. Earnings were also higher than our estimate of 19 cents. The company reported earnings of 9 cents in the year-ago quarter.
Adjusted earnings (adjusted for stock-based compensation, depreciation, amortization and tax provision) came in at 31 cents per share in the reported quarter compared with 13 cents a year ago. Adjusted earnings also beat our estimate of 28 cents per share.
Total revenues amounted to $60.8 million, beating both the Zacks Consensus Estimate of $59 million and our estimate of $55.3 million. Sales rose 58.6% from the year-ago quarter’s $38.3 million. The top line primarily comprised significant sales of Firdapse (amifampridine), the company’s first approved drug for the treatment of Lambert-Eaton myasthenic syndrome (LEMS) and nominal license and other revenues.
Quarter in Detail
Firdapse generated sales worth $60.7 million in the fourth quarter, up 58.6% year over year, primarily driven by organic sales growth of Firdapse and the transition of Ruzurgi patients to Firdapse treatment after the dispute settlement with Jacobus Pharmaceuticals. Firdapse sales beat our estimate of $55.2 million in the reported quarter.
License and other revenues were nominal at $0.07 million in the reported quarter, up from $0.04 million in the prior-year quarter.
Research and development expenses were $4.1 million, down from the $5 million reported in the year-ago quarter.
Selling, general and administrative expenses totaled $14.7 million, up from $13.2 million reported in the year-ago quarter.
As of Dec 31, 2022, CPRX had cash, cash equivalents and investments worth $298.3 million compared with $256.1 million as of Sep 30, 2022.
2022 Results
For the full year, the company reported earnings of 75 cents per share, up from 37 cents reported in the last year. Earnings beat both the Zacks Consensus Estimate of 73 cents per share and our estimate of 71 cents. Adjusted earnings came in at $1.02 per share, which is higher than the 55 cents recorded in the year December 2021. Adjusted earnings also beat our estimate of $1.00.
The total revenues recorded by Catalyst in 2022 is $214.20 million, up 52.1% from last year, but fell shy of the Zacks Consensus Estimate of $214.29 million. However, it beat our estimate of $208.7 million. Firdapse sales rose 55% in 2022 to $213.9 million, beating our estimate of $208.4 million.
2023 Guidance
Rolling into 2023, the company expects full-year 2023 total revenues to be in the range of $375 million to $385 million, marking a 75 increase in total revenues from 2022. This guidance also includes the revenues generated from the sales of Fycompa CIII, which is expected to be $130 million for the 11 months ending December 2023.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended upward during the past month.
The consensus estimate has shifted 9.38% due to these changes.
VGM Scores
At this time, Catalyst has a great Growth Score of A, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Catalyst has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Catalyst is part of the Zacks Medical - Drugs industry. Over the past month, Jazz Pharmaceuticals (JAZZ - Free Report) , a stock from the same industry, has gained 6.2%. The company reported its results for the quarter ended December 2022 more than a month ago.
Jazz reported revenues of $972.12 million in the last reported quarter, representing a year-over-year change of +8.4%. EPS of -$0.07 for the same period compares with $4.21 a year ago.
Jazz is expected to post earnings of $4.27 per share for the current quarter, representing a year-over-year change of +14.5%. Over the last 30 days, the Zacks Consensus Estimate has changed -2.6%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Jazz. Also, the stock has a VGM Score of C.