Today's Research Reports on Stocks to Watch: Esperion Therapeutics and Valeant Pharmaceuticals

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Accesswire 9-Aug-2017 8:10 AM
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NEW YORK, NY / ACCESSWIRE / August 9, 2017 / Esperion Therapeutics may not have been able to thrill the Street with its second quarter earnings yesterday, but shares still hit a new high after the company reported top line results from a clinical trial for bempedoic acid, which is the companys only candidate in trials right now. Shares of Valeant also saw a gain after reporting earnings results that were either in line or ahead of expectations.
RDI Initiates Coverage on:
Esperion Therapeutics, Inc. https://ub.rdinvesting.com/news/?ticker=ESPR
Valeant Pharmaceuticals International, Inc. https://ub.rdinvesting.com/news/?ticker=VRX
Esperion Therapeutics, Inc.'s shares closed up 15.41% on Tuesday with a little over 4 million shares traded. The stock even hit a new high of $57.38 during intra-day trading despite reporting a loss in its second quarter earnings results and missing Wall Street's expectations. For the quarter, the Michigan-based company reported a loss of $1.92 per share. Analysts had been waiting for a loss of $1.67 per share. So why did the clinical-stage biotech see a new high yesterday? Investors were more interested in the company's top-line clinical trial results for its lead candidate, bempedoic acid, which is intended to lower LDL cholesterol. This is the only drug in clinical trials for the company. Esperion announced the results from a mid-stage study that included 60 patients and the candidate met its main goal. Since the beginning of 2017, shares of Esperion have more than tripled.
Access RDI's Esperion Therapeutics, Inc. Research Report at: https://ub.rdinvesting.com/news/?ticker=ESPR
Valeant Pharmaceuticals International, Inc.'s shares closed up 1.76% yesterday only a little over 48 million shares traded. Volume was significantly higher than usual on Tuesday as average volume for the stock is just around 23 million shares. The Canadian pharmaceutical company reported its second quarter earnings results before the bell on Tuesday and beat on earnings. For the quarter, Valeant posted earnings per share of $1.05, coming in 11 cents higher than the Wall Street consensus estimate of 94 cents. Revenue was $2.23 billion which was in line with what analysts had been waiting for. It was also a drop of 8% from the year ago quarter. CEO Joseph Papa cited that investments in its core businesses are garnering positive results and said, "The Bausch + Lomb/International segment and Salix business, which together represented 73% of our revenue in the quarter, delivered strong organic growth, and we are continuing to reduce debt and resolve legacy issues." Looking ahead, however, the company has lowered its revenue forecast for the full year to $8.7 billion to $8.9 billion. Previously the company had expected $8.9 billion to $9.1 billion.
Access RDI's Valeant Pharmaceuticals International, Inc. Research Report at: https://ub.rdinvesting.com/news/?ticker=VRX
Our Actionable Research on Esperion Therapeutics, Inc. (NASDAQ: ESPR) and Valeant Pharmaceuticals International, Inc. (NYSE: VRX) can be downloaded free of charge at Research Driven Investing.
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