Aegerion Pharmaceuticals Inc. (NASDAQ:AEGR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Aegerion’s merger agreement with QLT Inc. is a big positive. It will leverage Aegerion’s development and commercial capabilities, as well as ability to have a transformative impact on patients suffering from debilitating rare diseases. The agreement comes at a time when the company's lead drug, Juxtapid, is facing challenges. The company added another drug to its portfolio, Myalept from AstraZeneca which boosted its portfolio. However, Aegerion is facing reimbursement hurdles for Myalept as prior authorizations are taking longer than expected and payers are requesting additional data. Moreover, the decision to withdraw Juxtapid from the EU is disappointing. Estimates have been mixed lately ahead of the company’s Q3 earnings release. The company has a mixed record of earnings surprises in the recent quarters.”
Shares of Aegerion Pharmaceuticals (NASDAQ:AEGR) traded up 3.48% during trading on Wednesday, hitting $2.08. The company had a trading volume of 250,318 shares. The firm’s market capitalization is $61.39 million. The stock’s 50-day moving average is $2.20 and its 200 day moving average is $2.04. Aegerion Pharmaceuticals has a 52-week low of $1.23 and a 52-week high of $16.63.
Aegerion Pharmaceuticals (NASDAQ:AEGR) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by $0.34. Aegerion Pharmaceuticals had a negative net margin of 80.76% and a negative return on equity of 128.77%. The company earned $44.50 million during the quarter, compared to analyst estimates of $35.50 million. Equities research analysts predict that Aegerion Pharmaceuticals will post ($3.44) earnings per share for the current fiscal year.
In related news, major shareholder Healthcare Master Fun Broadfin acquired 276,000 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was bought at an average price of $1.66 per share, for a total transaction of $458,160.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.60% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the company. FNY Managed Accounts LLC boosted its position in shares of Aegerion Pharmaceuticals by 142.0% in the third quarter. FNY Managed Accounts LLC now owns 49,372 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 28,972 shares during the period. Sarissa Capital Management LP raised its stake in shares of Aegerion Pharmaceuticals by 2.7% in the second quarter. Sarissa Capital Management LP now owns 2,649,000 shares of the biopharmaceutical company’s stock worth $3,947,000 after buying an additional 69,000 shares during the period. Paloma Partners Management Co purchased a new stake in shares of Aegerion Pharmaceuticals during the second quarter worth about $142,000. Jefferies Group LLC raised its stake in shares of Aegerion Pharmaceuticals by 149.9% in the second quarter. Jefferies Group LLC now owns 745,150 shares of the biopharmaceutical company’s stock worth $1,110,000 after buying an additional 447,027 shares during the period. Finally, Spark Investment Management LLC raised its stake in shares of Aegerion Pharmaceuticals by 10.1% in the second quarter. Spark Investment Management LLC now owns 586,400 shares of the biopharmaceutical company’s stock worth $873,000 after buying an additional 53,600 shares during the period. Institutional investors and hedge funds own 87.52% of the company’s stock.
Aegerion Pharmaceuticals Company Profile
Aegerion Pharmaceuticals, Inc is a biopharmaceutical company engaged in the development and commercialization of therapies for patients with debilitating rare diseases. It operates through pharmaceuticals segment. Its products include lomitapide and metreleptin. Lomitapide is a small molecule microsomal triglyceride transfer protein (MTP) inhibitor.
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