Chuck Garric

Main Menu

  • Home
  • Output gap
  • Business ethics
  • Pre-market
  • Discount basis
  • Saving investment

Chuck Garric

Header Banner

Chuck Garric

  • Home
  • Output gap
  • Business ethics
  • Pre-market
  • Discount basis
  • Saving investment
Pre-market
Home›Pre-market›Esperion plans the alignment of expenses and the operational structure; Stocks drop 1.5% before market

Esperion plans the alignment of expenses and the operational structure; Stocks drop 1.5% before market

By Paul Gonzalez
October 18, 2021
0
0

Michigan-based Esperion Therapeutics, Inc. (ESPR) plans to align its spending and operational structure to drive the growth of the oral drugs NEXLIZET and NEXLETOL. The plan will also prioritize the company’s investment in the CLEAR Outcomes trial.

Esperion is focused on the development and sale of oral therapies for the treatment of patients with high low density lipoprotein (LDL) cholesterol. Its shares are down 1.5%, at the time of writing, in early Monday trading. (See hot actions from insiders on TipRanks)

The company has updated its operating expense outlook for 2021 and now expects R&D spending to be between $ 110 million and $ 115 million, from a previous range of $ 120 million to $ 130 million. Selling and administrative expenses are expected to be in the $ 195 million to $ 200 million range, compared to the previously announced range of $ 200 million to $ 210 million.

For 2022, Esperion expects R&D spending to be in the range of $ 100-110 million and SG&A spending of $ 120-130 million. In addition, the company anticipates operating expenses of between $ 220 and $ 240 million.

Esperion President and CEO Sheldon Koenig said, “Today’s decision will help further develop NEXLETOL and NEXLIZET while preserving resources to support our critically important and differentiated CLEAR Outcomes trial. , which we believe has the potential to dramatically increase uptake of our cholesterol lowering agents.

Meanwhile, the lipid management company expects net product revenue for the third quarter of 2021 to be between $ 10.5 million and $ 11 million. It also aims to reduce its workforce in companies by 40%.

Last month Goldman Sachs (SG) Analyst Paul Choi maintained a sell rating on the stock and lowered the price target to $ 8 from $ 16 (downside potential of 12.5%).

In a research note to investors, the analyst said: “Given stable prescription volumes over the past four months, significant improvements are needed in both prescription growth for the company to meet consensus estimates. from 2021 to 2022. “

Overall, the stock has a moderate buy consensus rating based on 4 buys and 2 sells. Esperion Therapeutics’ average price target of $ 53.67 implies upside potential of 487.2%. Stocks have lost 73.1% in the past year.

Related News:
Johnson & Johnson’s booster dose for COVID-19 gets green light
AMC Entertainment launches open captioning format in 240 locations
Revance shares fall for lack of FDA approval

More recent articles from Smarter Analyst:


Source link

Related posts:

  1. Pre-market explanation of increase of more than 7%
  2. Stock of the day of preparation before marketing: Moderna – Moderna (MRNA)
  3. The shares of GrafTech International Ltd. (EAF) dropped during the pre-marketing session. Here to find out why?
  4. Tuesday Pre-Market: Here’s What You Need To Know Before The Market Opens
  • Privacy Policy
  • Terms and Conditions