Why Aegerion Shares Popped
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of biotechnology company Aegerion Pharmaceuticals popped 10% today after the company's quarterly results and outlook topped Wall Street expectations.
So what: The stock has soared over the past year on the particularly strong launch of Juxtapid -- which treats a rare genetic disease called homozygous familial hypercholesterolemia, or HoFH -- and today's news only reinforces that blockbuster profit potential. In fact, management said that 215 patients are already on the drug right now, putting the company on a great pace to beat its goal of 250-300 patients at year's end.
Management now sees 2013 Juxtapid sales of $30 million-$35 million, up significantly from its prior view of $15 million-$25 million.
"We remain highly focused on delivering lomitapide to HoFH patients globally, and our regulatory progress continues with ongoing filings for approval in key markets," CEO Marc Beer said. "With this planned global expansion, we are building the foundation for long-term growth."
Of course, with the stock now up a whopping 450% over the past year, Fools will need plenty of biotech savvy to estimate just how much of that growth is already baked into the valuation.
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The article Why Aegerion Shares Popped originally appeared on Fool.com.Fool contributor Brian Pacampara has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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