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Brief Overview on Company’s Performance: Quotient Limited (NASDAQ: QTNT)

By
Elaine Goetz
-

EYSINS, Jersey, October 16, 2019 – Shares of Quotient Limited (NASDAQ: QTNT) declined -1.09% to $7.27. The stock grabbed the investor’s attention and traded 98.599K shares as compared to its average daily volume of 312.15K shares. The stock’s institutional ownership stands at 85.60%.

Quotient Ltd. (QTNT) reported a loss of $26.60M in its fiscal fourth quarter. The Eysins, Jersey-based Company said it had a loss of 41 cents per share. The blood test developer posted revenue of $8.30M in the period. For the year, the company reported that its loss widened to $105.40M, or $1.92 per share. Revenue was reported as $29.10M.

QTNT has a market value of $463.39M while its EPS was booked as $-1.76 in the last 12 months. The stock has 63.74M shares outstanding. In the profitability analysis, the company has gross profit margin of 39.70%. Beta value of the company was 1.00; beta is used to measure riskiness of the security.

Eye-Catching Stock Buzz: Qualys Inc. (NASDAQ: QLYS)

By
Miguel McKinley
-

FOSTER CITY, Calif., October 15, 2019 – Shares of Qualys Inc. (NASDAQ: QLYS) gained 0.50% to $78.09. The stock traded total volume of 137.662K shares lower than the average volume of 335.11K shares.

For the quarter, Qualys, Inc. (NASDAQ: QLYS) reported revenues of $75.30M, net income under United States Generally Accepted Accounting Principles (“GAAP”) of $13.30M, non-GAAP net income of $20.30M, adjusted EBITDA of $30.60M, GAAP earnings per diluted share of $0.32, and non-GAAP earnings per diluted share of $0.49.

First Quarter 2019 Financial Highlights:

Gross Profit: GAAP gross profit for the first quarter of 2019 increased by 18% to $57.60M compared to $49.00M for the same quarter in 2018. GAAP gross margin percentage was 76% for the first quarter of 2019 compared to 75% for the same quarter in 2018. Non-GAAP gross profit for the first quarter of 2019 increased by 19% to $59.70M compared to $50.20M for the same quarter in 2018. Non-GAAP gross margin percentage was 79% for the first quarter of 2019 compared to 77% for the same quarter in 2018.

Operating Income: GAAP operating income for the first quarter of 2019 increased by 67% to $14.10M compared to $8.40M for the same quarter in 2018. As a percentage of revenues, GAAP operating income was 19% for the first quarter of 2019 compared to 13% for the same quarter in 2018. Non-GAAP operating income for the first quarter of 2019 increased by 33% to $24.20M compared to $18.20M for the same quarter in 2018. As a percentage of revenues, non-GAAP operating income was 32% for the first quarter of 2019 compared to 28% for the same quarter in 2018.

Net Income: GAAP net income for the first quarter of 2019 was $13.30M, or $0.32 per diluted share, compared to $9.10M, or $0.22 per diluted share, for the same quarter in 2018. Non-GAAP net income for the first quarter of 2019 was $20.30M, or $0.49 per diluted share, compared to non-GAAP net income of $15.00M, or $0.36 per diluted share, for the same quarter in 2018.

Adjusted EBITDA: Adjusted EBITDA (a non-GAAP financial measure) for the first quarter of 2019 increased 24% to $30.60M compared to $24.60M for the same quarter in 2018. As a percentage of revenues, adjusted EBITDA was 41% for the first quarter of 2019 compared to 38% for the same quarter in 2018.

Operating Cash Flow: Operating cash flow for the first quarter of 2019 increased 3% to $44.30M compared to $43.00M for the same quarter in 2018. As a percentage of revenues, operating cash flow was 59% for the first quarter of 2019 compared to 66% for the same quarter in 2018.

Financial Performance Outlook

Second Quarter 2019 Guidance: Management expects revenues for the second quarter of 2019 to be in the range of $78.20M to $78.70M, representing 15% growth over the same quarter in 2018. GAAP net income per diluted share is expected to be in the range of $0.22 to $0.24, which assumes an effective income tax rate of 26%. Non-GAAP net income per diluted share is expected to be in the range of $0.46 to $0.48, which assumes an effective non-GAAP income tax rate of 22%. Second quarter 2019 earnings per share estimates are based on approximately 41.60M weighted average diluted shares outstanding for the quarter.

Full Year 2019 Guidance: Management expects revenues for the full year 2019 to be in the range of $320.50M to $323.00M, representing 15% to 16% growth over 2018.  GAAP net income per diluted share is now expected to be in the range of $1.02 to $1.07, up from the previous guidance range of $0.90 to $0.95. This assumes an effective income tax rate of 23%, down from the previous assumption of 26%. Non-GAAP net income per diluted share is now expected to be in the range of $1.89 to $1.94, up from the previous guidance range of $1.84 to $1.89. This assumes an effective non-GAAP income tax rate of 22%. Full year 2019 earnings per share estimates are based on approximately 41.80M weighted average diluted shares outstanding.

QLYS has the market capitalization of $2.94B and its EPS growth ratio for the past five years was 100.00%. The return on assets ratio of the Company was 11.00% while its return on investment ratio stands at 14.50%. Price to sales ratio was 9.81 while 88.20% of the stock was owned by institutional investors.

Hot Stock That Must Be in Your Portfolio: PTC Therapeutics Inc. (NASDAQ: PTCT)

By
Elaine Goetz
-

SOUTH PLAINFIELD, N.J., October 15, 2019 – Shares of PTC Therapeutics Inc. (NASDAQ: PTCT) showed the bullish trend with a higher momentum of 0.11% to $35.33. The company traded total volume of 299.853K shares as contrast to its average volume of 595.34K shares. The company has a market value of $2.12B and about 59.97M shares outstanding.

PTC Therapeutics, Inc. (PTCT) reported total revenues of $53.60M for the first quarter of 2019, compared to $56.10M for the first quarter of 2018.

  • Translarna net product revenues were $35.30M for the first quarter of 2019, compared to $36.80M for the first quarter of 2018. These results reflect lumpiness in ordering patterns from Latin America.
  • Emflaza net product revenues were $17.80M for the first quarter of 2019, compared to $19.20M for the first quarter of 2018. These results reflect first quarter dynamics including seasonality and a planned transition to a new specialty pharmacy distributor.
  • GAAP R&D expenses were $52.60M for the first quarter of 2019, compared to $31.40M for the first quarter of 2018. The increase in R&D expenses reflects costs associated with advancing the gene therapy platform and increased investment in research programs as well as advancement of the clinical pipeline.
  • Non-GAAP R&D expenses were $47.90M for the first quarter of 2019, excluding $4.70M in non-cash, stock-based compensation expense, compared to $27.60M for the first quarter of 2018, excluding $3.70M in non-cash, stock-based compensation expense.
  • GAAP SG&A expenses were $40.60M for the first quarter of 2019, compared to $33.00M for the first quarter of 2018. The increase in SG&A expenses were primarily due to continued investment to support our commercial activities.
  • Non-GAAP SG&A expenses were $36.00M for the first quarter of 2019, excluding $4.60M in non-cash, stock-based compensation expense, compared to $29.00M for the first quarter of 2018, excluding $4.00M in non-cash, stock-based compensation expense.
  • Change in the fair value of deferred and contingent consideration was $21.20M for the first quarter of 2019. The change in fair value of deferred and contingent consideration is related to the fair valuation of potential future consideration to be paid to former equity holders of Agilis Biotherapeutics, Inc. (Agilis) in connection with PTC’s acquisition of Agilis, which closed in August 2018.
  • Net loss was $72.10M for the first quarter of 2019, compared to net loss of $19.30M for the first quarter of 2018.
  • Cash, cash equivalents, and marketable securities were $407.20M at March 31, 2019, compared to $227.60M at December 31, 2018. Shares issued and outstanding as of March 30, 2019 were 58,418,790.

The Company offered net profit margin of -76.40% while its gross profit margin was 95.50%. ROE was recorded as -49.10% while beta factor was 1.84. The stock, as of recent close, has shown the weekly upbeat performance of 3.91% which was maintained at 2.94% in this year.

Stock Buzz: Plantronics Inc. (NYSE: PLT)

By
Miguel McKinley
-

SANTA CRUZ, Calif., October 14, 2019 – Shares of Plantronics Inc. (NYSE: PLT) surged 6.60% to $35.03. The stock grabbed the investor’s attention and traded 256.280K shares as compared to its average daily volume of 462.35K shares. The stock’s institutional ownership stands at 98.76%.

Plantronics Inc. (PLT) reported a fiscal fourth-quarter loss of $21.60M, after reporting a profit in the same period a year earlier. On a per-share basis, the Santa Cruz, California-based company said it had a loss of 55 cents. Earnings, adjusted for one-time gains and costs, were $1.44 per share. The headset maker posted revenue of $468.50M in the period.

For the year, the company reported that its loss widened to $135.60M, or $3.61 per share. Revenue was reported as $1.67B. For the current quarter ending in July, Plantronics expects its per-share earnings to range from $1.15 to $1.45. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.30. The company said it expects revenue in the range of $471.0M to $501.0M for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $510.50M.

PLT has a market value of $1.30B while its EPS was booked as $-5.05 in the last 12 months. The stock has 37.13M shares outstanding. In the profitability analysis, the company has gross profit margin of 41.90% while net profit margin was -10.30%. Beta value of the company was 1.56; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 1.80.

Financial Reports are Key to Consider: Progenics Pharmaceuticals Inc. (NASDAQ: PGNX)

By
Elaine Goetz
-

NEW YORK, October 14, 2019 – Shares of Progenics Pharmaceuticals Inc. (NASDAQ: PGNX) showed the bullish trend with a higher momentum of 2.17% to $5.18. The company traded total volume of 1.234M shares as contrast to its average volume of 1.22M shares. The company has a market value of $439.21M and about 84.79M shares outstanding.

Progenics Pharmaceuticals, Inc. (PGNX) reported first quarter revenue of $4.30M, up from $3.20M in the first quarter of 2018, reflecting RELISTOR royalty income of $4.20M compared to $3.10M in the corresponding period of 2018.

First quarter research and development expenses increased by $4.30M compared to the corresponding prior year period, resulting primarily from one-time transition costs for the AZEDRA manufacturing site and higher clinical and contract manufacturing costs for PyL. First quarter selling, general and administrative expenses increased by $2.50M compared to the corresponding prior year period, primarily attributable to higher costs associated with the buildout of the commercial infrastructure to support the launch and distribution of AZEDRA and higher legal expenses. Progenics also recorded non-cash adjustments of $0.90M in the first quarter 2019, related to changes in the fair value estimate of the contingent consideration liability. For the three months ended March 31, 2019, Progenics recognized interest expense of $1.10M related to the RELISTOR royalty-backed loan.

Net loss for the first quarter was $18.70M, or $0.22 per diluted share, compared to net loss of $13.40M, or $0.19 per diluted share, in the corresponding 2018 period.

Progenics ended the first quarter with cash and cash equivalents of $109.60M, a decrease of $28.10M compared to cash and cash equivalents as of December 31, 2018, which includes approximately $10.80M related to the acquisition, transition and start-up costs of the Somerset manufacturing site for the AZEDRA launch.

The Company offered gross profit margin of 97.80%. ROE was recorded as -83.30% while beta factor was 2.79. The stock, as of recent close, has shown the weekly downbeat performance of -8.64% which was maintained at 23.33% in this year.

Trending Stock: Parker Drilling Company (NYSE: PKD)

By
Ronald Bass
-

HOUSTON, October 14, 2019 – Shares of Parker Drilling Company (NYSE: PKD) gained 0.58% to $19.07. The stock grabbed the investor’s attention and traded 14.982K shares as compared to its average daily volume of 52.95K shares. The stock’s institutional ownership stands at 92.40%.

Parker Drilling Company (PKD) reported a net loss of $90.20M or a $9.63 loss per common share on revenues of $157.40M. First quarter Adjusted EBITDA was $28.40M.

Consolidated:

General and administrative expenses were $8.10M for the 2019 first quarter. Total liquidity at the end of the quarter, exclusive of $21.40M restricted cash, was $153.00M, consisting of $127.80M in unrestricted cash and cash equivalents and $25.20M available under the Company’s credit facility.

Capital expenditures in the first quarter were $9.20M, primarily geared to the Company’s Rentals Tools Services business.

PKD has a market value of $288.34M while its EPS was booked as $-21.62 in the last 12 months. The stock has 15.12M shares outstanding. In the profitability analysis, the company has gross profit margin of 7.10% while net profit margin was -35.40%. Analyst recommendation for this stock stands at 2.50.

Hot Stock That Must Be in Your Portfolio: Melinta Therapeutics Inc. (NASDAQ: MLNT)

By
Elaine Goetz
-

MORRISTOWN, N.J., October 13, 2019 – Shares of Melinta Therapeutics Inc. (NASDAQ: MLNT) showed the bullish trend with a higher momentum of 1.84% to $3.88. The company traded total volume of 503.327K shares as contrast to its average volume of 748.34K shares. The company has a market value of $54.44M and about 14.03M shares outstanding.

Melinta Therapeutics, Inc. (MLNT) reported revenue of $14.10M for the first quarter of 2019. Revenue from product sales was $11.80M, flat with the first quarter of 2018. Strong performance by Vabomere® (meropenem and vaborbactam) and Minocin® (minocycline) for Injection were offset by softer sales of Baxdela and Orbactiv® (oritavancin).

Cost of goods sold (“COGS”) was $7.40M and $7.70M, respectively, for the first quarter of 2019 and the first quarter of 2018, of which $4.10M and $4.70M was comprised of non-cash amortization of intangible assets.

Research and development (“R&D”) expenses were $5.40M for the first quarter of 2019, contrast to $16.10M for the same period in 2018. R&D expenses reduced mainly as a result of the completion of the Company’s Phase III study for Baxdela in CABP as well as winding down its early research and discovery programs, which was accomplished at the end of March 2019. Selling, general and administrative (“SG&A”) expenses were $25.90M for the first quarter of 2019, contrast to $34.60M for the same period in 2018. SG&A expenses reduced mainly as a result of the cost-cutting measures the Company initiated in the fourth quarter of 2018.

Net loss was $26.50M, or $2.34 per share, for the first quarter of 2019, contrast to a net loss of $29.40M, or $4.76 per share, for the first quarter of 2018. Net loss per share year-over-year reflects changes in share count as a result of the one-for-five reverse stock split effective on February 22, 2019.

The Company ended the quarter with $116.90M of cash and cash equivalents, which included the $75.0M disbursement under the convertible loan facility with Vatera in February 2019.

The Company offered gross profit margin of 61.50%. ROE was recorded as -72.50% while beta factor was 4.53. The stock, as of recent close, has shown the weekly upbeat performance of 9.60% which was maintained at -2.11% in this year.

Stock on the Run: Natera Inc. (NASDAQ: NTRA)

By
Elaine Goetz
-

SAN CARLOS, Calif., October 13, 2019 – Shares of Natera Inc. (NASDAQ: NTRA) declined -2.07% to $34.04. The stock traded total volume of 566.265K shares lower than the average volume of 630.44K shares.

Natera, Inc. (NASDAQ: NTRA) reported total revenues of $66.80M compared to $62.30M for the first quarter of 2018, an increase of 7%. The increase in total revenues was driven primarily by sales of our Panorama and HCS tests. There were 200,194 tests processed in the first quarter of 2019, including approximately 186,500 tests accessioned and 11,800 processed through the Constellation software platform (Constellation units), compared to approximately 164,355 tests processed in the first quarter of 2018, including approximately 153,900 tests accessioned and 9,700 Constellation units, an overall increase of approximately 22%.

In the three months ended March 31, 2019, Natera recognized revenue on 184.70K tests for which results were reported to customers in the period (tests reported), including approximately 173.40K tests accessioned and 11.30K Constellation units, compared to 147,100 tests reported, including approximately 137.80K tests accessioned and 9,300 Constellation units, in the first quarter of 2018, which represents an increase of approximately 26%. Natera recognized revenues on approximately 119.40K Panorama tests accessioned and 9,500 Panorama Constellation units in the three months ended March 31, 2019, compared to approximately 97.0K Panorama tests accessioned and 7,500 Panorama Constellation units in the same period in 2018. Natera recognized revenue on approximately 49,900 HCS tests accessioned in the three months ended March 31, 2019, compared to approximately 37.0K HCS tests accessioned in the same period in 2018.

Gross profit for the three months ended March 31, 2019 and 2018 was $23.50M and $21.70M, respectively, in each case representing a 35% gross margin. We were able to maintain the same gross margin as a result of the increased revenue and cost savings achieved from the launch of our HCS automation workflow, and lower vendor costs attributable to specimen services.

Total operating expenses, representing research and development expenses and selling, general and administrative expenses, for the first quarter of 2019 were $55.30M, an increase of approximately 6% compared to $52.30M in the same period of the prior year. The increase was driven primarily by higher personnel-related expenses, legal fees, travel expenses related to marketing events, and higher corporate-related expenses, offset by a reduction in research and development expenses upon completion of our HCS automation workflow development, which expenses then shifted to cost of product revenues following its implementation.

Loss from operations for the first quarter of 2019 was $31.70M compared to $30.50M for the same period of the prior year.

Net loss for the first quarter of 2019 was $34.10M, or ($0.54) per diluted share, compared to net loss of $32.90M, or $(0.61) per diluted share, for the same period in 2018. Weighted average shares outstanding were 62.80M in the first quarter of 2019.

At March 31, 2019, Natera held $128.50M in cash, cash equivalents, short-term investments and restricted cash, compared to $158.50M as of December 31, 2018. Subsequent to the close of the quarter, Natera successfully closed a follow-on equity offering that yielded roughly $1080M in net proceeds to the company. As of March 31, 2019, Natera had a total outstanding debt balance of $123.60M, comprised of $50.20M with accrued interest under its $50.00M line of credit with UBS at a variable interest rate of 30-day LIBOR plus 110 bps and a net carrying amount of $73.40M under its $125.00M debt facility with OrbiMed Advisors, reflecting no change from December 31, 2018. The UBS line of credit is secured by Natera’s investment portfolio, which is designed to yield higher returns than the borrowing rate Natera incurs in order to fund current operations. Under its debt facility with OrbiMed Advisors, Natera has an option to draw up to $50.00M in additional funds on or prior to December 31, 2019.

2019 Financial Outlook:

Natera anticipates 2019 total revenue of $275.0M to $302.0M; 2019 cost of revenues to be approximately 59% to 65% of revenues; selling, general and administrative costs to be approximately $180.0M to $190.0M; research and development costs to be $60.0M to $65.0M and net cash burn to be $80.0M to $100.0M.

NTRA has the market capitalization of $2.32B and its EPS growth ratio for the past five years was -21.70%. The return on assets ratio of the Company was -43.00% while its return on investment ratio stands at -73.80%. Price to sales ratio was 8.49 while 93.01% of the stock was owned by institutional investors.

Stock in Focus: NovoCure Limited (NASDAQ: NVCR)

By
Elaine Goetz
-
  1. HELIER, Jersey, October 13, 2019 – Shares of NovoCure Limited (NASDAQ: NVCR) gained 0.93% to $72.52. The stock grabbed the investor’s attention and traded 415.816K shares as compared to its average daily volume of 855.59K shares. The stock’s institutional ownership stands at 74.90%.

For the three months ended March 31, 2019, Novocure (NVCR) reported net revenues of $73.30M, representing 41 percent growth versus the same period in 2018. Revenue growth was primarily driven by an increase of 622 active patients in our currently active markets, representing 31 percent growth, and an increase in net revenues per active patient. The increase in net revenues per active patient was primarily driven by improving reimbursement approval rates in Germany and by growth in Austria and Japan.

For the three months ended March 31, 2019, cost of revenues was $19.80M compared to $18.20M for the same period in 2018, representing an increase of 9 percent. The increase in cost of revenues was primarily due to the cost of shipping transducer arrays to a higher volume of active patients. Gross margin was 73% for the three months ended March 31, 2019 compared to 65% for the three months ended March 31, 2018.

Research, development and clinical trials expenses for the three months ended March 31, 2019, were $17.00M compared to $11.10M for the same period in 2018, representing an increase of 53 percent. This was primarily due to an increase in clinical trial and personnel expenses for our INNOVATE-3, LUNAR, METIS and PANOVA-3 trials and an increase in costs associated with medical affairs, regulatory and engineering.

Sales and marketing expenses for the three months ended March 31, 2019, were $22.30M compared to $18.10M for the same period in 2018, representing an increase of 23 percent. This was primarily due to increased marketing expenses and increased personnel costs associated with a larger sales force globally.

General and administrative expenses for the three months ended March 31, 2019, were $20.20M compared to $17.30M for the same period in 2018, representing an increase of 17 percent. This was primarily due to an increase in personnel costs and an increase in professional services.

Personnel costs for the three months ended March 31, 2019, included $9.70M in non-cash share-based compensation expenses, comprised of $0.40M in cost of revenues; $1.20M in research, development and clinical trials; $2.00M in sales and marketing; and $6.10M in general and administrative expenses. Total non-cash share-based compensation expenses for the first quarter 2018 were $8.50M.

Net loss for the three months ended March 31, 2019, was $12.20M, or $0.13 per share, compared to net loss of $20.70M for the same period in 2018, or $0.23 per share, representing an improvement of 41 percent.

At March 31, 2019, we had $152.10M in cash and cash equivalents and $104.50M in short-term investments, for a total balance of $256.60M in cash, cash equivalents and short-term investments.

NVCR has a market value of $6.97B while its EPS was booked as $-0.44 in the last 12 months. The stock has 96.07M shares outstanding. In the profitability analysis, the company has gross profit margin of 71.80% while net profit margin was -13.80%. Beta value of the company was 2.34; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.30.

Earnings Roundup: Neovasc Inc. (NASDAQ: NVCN)

By
Elaine Goetz
-

RICHMOND, British Columbia, October 13, 2019 – Shares of Neovasc Inc. (NASDAQ: NVCN) showed the bearish trend with a lower momentum of -3.40% to $3.41. The company traded total volume of 32.559K shares as contrast to its average volume of 104.45K shares. The company has a market value of $25.51M and about 7.48M shares outstanding.

Neovasc Inc. (NVCN) reported a loss of $8.60M in its first quarter. The Richmond, British Columbia-based company said it had a loss of 21 cents per share. Losses, adjusted for asset impairment costs, came to 20 cents per share. The medical device company posted revenue of $585,800 in the period. Its adjusted revenue was $586.0K.

The stock, as of recent close, has shown the weekly downbeat performance of -5.01% which was maintained at -43.45% in this year.

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