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Esperion (ESPR) Q4 Earnings Beat, Product Sales Rise 49%

·4 min read

Esperion Therapeutics, Inc. ESPR incurred a loss per share of $1.77 per share for the fourth quarter of 2021, significantly narrower than the Zacks Consensus Estimate of a loss of $2.32 per share. The company had recorded a loss of $3.89 per share in the year-ago period.

The company generated revenues of $15.4 million, up almost 60% year over year. Revenues also beat the Zacks Consensus Estimate of $14.5 million.

Shares of Esperion rose 13.5% on Feb 22, following the strong quarterly results. However, Esperion’s stock has lost 84.7% in the past year compared with the industry’s 32.2% decrease.

Zacks Investment Research
Zacks Investment Research


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Quarter in Details

Esperion has two FDA-approved drugs — Nexletol and Nexlizet — in its commercial portfolio approved for treating elevated LDL-C (bad cholesterol). These two drugs are marketed as Nilemdo and Nustendi in Europe and several other ex-U.S. markets in partnership with Daiichi Sankyo. Esperion records royalty on sales of its drugs in Europe.

Product revenues, solely from the United States, were $12.2 million in the fourth quarter, up 49.3% year over year. Product revenues were up 11.9% sequentially. The company stated that prescriptions for its drugs were up 9% year over year.

The company recorded royalty revenues of $0.8 million during the reported quarter, compared with $1.2 million in the previous quarter. The item was included in Collaboration revenues, which were $3.2 million during the fourth quarter, compared with $1.5 million in the year-ago quarter.

Research and development (R&D) expense decreased 34.2% from the year-ago period to $27.6 million due to a decline in contract research organization and compensation expense.

Selling, general and administrative expenses (SG&A) were down 37.7% year over year to $38.3 million due to lower promotional and commercial compensation expenses.

As of Dec 31, 2021, Esperion had cash, cash equivalents, restricted cash and investment securities of $309.3 million compared with cash, cash equivalents and short-term investments $323 million as of Sep 30, 2021.

Full-Year Results

Esperion reported revenues of $78.4 million compared with $227.5 million in 2020. The company had recorded one-time collaboration revenues from its partnerships in 2020, which were absent in 2021 and led to a significant decline in revenues. However, product sales increased more than 200% year over year.

The company’s loss for 2021 was $9.31 per share, wider than the loss of $5.23 per share in the year-ago period.

2022 Guidance

Esperion maintained its guidance for R&D and SG&A costs in 2022 provided in January. The company expects R&D expense for 2022 to be in the range of $100-$110 million, while SG&A expense is expected to be between $120 million and $130 million.

Esperion Therapeutics, Inc. Price, Consensus and EPS Surprise

Esperion Therapeutics, Inc. Price, Consensus and EPS Surprise
Esperion Therapeutics, Inc. Price, Consensus and EPS Surprise

Esperion Therapeutics, Inc. price-consensus-eps-surprise-chart | Esperion Therapeutics, Inc. Quote

Zacks Rank & Stocks to Consider

Esperion currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the same sector include Collegium Pharmaceutical COLL, Catalyst Pharmaceuticals CPRX, and Gamida Cell GMDA. While Collegium sports a Zacks Rank #1 (Strong Buy), Catalyst and Gamida carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Collegium’s earnings per share estimates have moved north from $3.52 to $5.86 for 2022 in the past 30 days. COLL has gained 18.8% so far this year.

Collegium delivered a negative earnings surprise of 22.76%, on average, in the last four quarters.

Catalyst’s earnings per share estimates have improved from 50 cents to 69 cents for 2022 in the past 30 days. CPRX has risen 9.9% so far this year.

Catalyst delivered an earnings surprise of 30.56%, on average, in the last four quarters.

Gamida loss per share estimates have narrowed from $1.83 to $1.35 for 2022 in the past 30 days. GMDA has risen 25.2% so far this year.

Gamida delivered a negative earnings surprise of 22.6%, on average, in the last four quarters.


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