Cumberland Pharmaceuticals (NASDAQ:CPIX) Releases Earnings Results, Beats Estimates By $5.20 EPS

Cumberland Pharmaceuticals (NASDAQ:CPIX) posted its quarterly earnings data on Tuesday. The specialty pharmaceutical company reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $5.20, FiscalAI reports. The company had revenue of $2.16 million during the quarter, compared to the consensus estimate of $8.50 million. Cumberland Pharmaceuticals had a negative net margin of 34.40% and a negative return on equity of 28.81%.

Here are the key takeaways from Cumberland Pharmaceuticals’ conference call:

• Cumberland received $100 million from the Apotex transaction and expects another $11 million for inventory and transition services. At quarter-end it had $80.6 million in cash and investments, no debt, and management estimates the remaining cash can fund operations for more than five years; the company also paid a special dividend and has begun implementing a share repurchase program.
• Cumberland is shifting from a commercial pharmaceutical business to clinical development and will no longer record revenue or related expenses from its legacy brands. Third-quarter net income of $77.8 million included a large, nonrecurring gain on the sale, so it is not indicative of ongoing earnings.
• The company plans to seek FDA approval for ifetroban for Duchenne muscular dystrophy (DMD), citing a 5.4-percentage-point improvement in left ventricular ejection fraction in its FIGHT DMD trial versus the comparison group. The FDA granted a rolling review, but the NDA is still being prepared and will include additional analyses and open-label extension data requested by the agency.
• Updates on other ifetroban programs were mixed or preliminary: the systemic sclerosis study was generally well tolerated but was not designed to assess efficacy, while an interim safety review in the IPF trial found no new signals and enrollment continues. A Vanderbilt-partnered cancer study met its safety endpoint and showed encouraging efficacy signals; the partners are planning a more focused follow-up study.

Cumberland Pharmaceuticals Price Performance

NASDAQ CPIX traded down $0.07 on Tuesday, hitting $5.30. 187,449 shares of the stock were exchanged, compared to its average volume of 372,294. The business’s fifty day moving average is $6.69 and its 200 day moving average is $5.53. Cumberland Pharmaceuticals has a 52 week low of $1.85 and a 52 week high of $9.28. The company has a market capitalization of $79.39 million, a PE ratio of -7.46 and a beta of 0.16.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Cumberland Pharmaceuticals in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Cumberland Pharmaceuticals Company Profile

Cumberland Pharmaceuticals Inc. is a specialty pharmaceutical company headquartered in Nashville, Tennessee. The company develops, acquires and commercializes prescription medicines, with a focus on products that address unmet needs in critical care, gastroenterology, pain management and other specialty areas. Its portfolio has included Caldolor (ibuprofen injection), Acetadote (acetylcysteine injection), Kristalose (lactulose for oral solution), Vaprisol (conivaptan hydrochloride injection) and Omeclamox-Pak, a treatment for certain Helicobacter pylori infections.