Boston, MA 02/27/2014 (wallstreetpr) – Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR) belong to the suffering end of Nasdaq listing, just when the company reported results which although were better than what analysts anticipated, still rung home a loss. The stock’s downfall was bigger in the early trading Wednesday, but things got better in the day as investors continued to digest the earnings news.
Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR) is a closely watched drug-maker stock, it has some of the most promising products out there on the market and even recently had its cholesterol control drug approved in Canada. Perhaps this explains why traders were not greatly alarmed by the just reported loss, but hoped that the future would be getting better.
Financial results
The company announced smaller loss for the fourth quarter and set strong sales guidance for fiscal 2014. AEGR reported non-GAAP loss of 14 cents, better than the 71 cents loss it suffered in the comparable quarter in the previous year. Analysts on their part had been looking for loss of 32 cents in the quarter.
The fourth quarter sales came in at $24.5 million, but there were no comparable sales in the corresponding quarter of 2012. The GAAP loss in the just reported quarter was almost half what it was in a year ago quarter at 47 cents against 86 cents.
As for the full-year 2013, Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR) ended up with $48.5 million in sales, slightly missing the $48.7 million that analysts had estimated for the year.
Looking forward
Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR) hopes that its sale in the current year will touch the range of $190 – $210 million. That guidance flies over the head of what analysts expect at $203 million in consensus view. Besides forecasting strong revenue for this year, the company also hopes that it will be able to break cash flow positive in the 2H of fiscal 2014.
Good news from Canada
Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR) recently got Notice of Compliance from Health Canada, approving its cholesterol control drug Juxtapid. That approval also opens more sales opportunity of the drug in the country, more so in the province of Quebec.
