Esperion Therapeutics (NASDAQ:ESPR) stock is up on Tuesday after the pharmaceutical company released its earnings report for the first quarter of 2024.
The good news from this earnings report includes Q1 revenue of $137.7 million. That’s well above the $83.89 million that Wall Street was expecting for the quarter. It also represents a year-over-year increase of 467% from $24.3 million.
Esperion Therapeutics also reported diluted earnings per share of 34 cents during the quarter. That’s a surprise profit compared to analysts’ EPS estimate of -1 cent. It’s also much better than the -79 cents per share reported in the same period of the year prior.
Sheldon Koenig, president and CEO of Esperion Therapeutics, said this about its earnings:
“We posted retail prescription equivalent growth of 43% year-over-year, generated our highest level of revenue yet, and ended the quarter with a cash balance that positions us to capitalize on our new label and deliver long term value growth.”
ESPR Stock Outlook
In its Q1 earnings report, Esperion Therapeutics provides limited guidance for the full year of 2024. That includes expected operating expenses ranging from $225 million to $245 million, including $20 million in non-cash expenses connected to stock compensation.
ESPR stock is up 12.8% as of Tuesday morning as some 7.8 million shares trade hands. That’s well above its daily average trading volume of about 6.1 million shares.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
