Yahoo Finance Factors Setting the Tone For Lantheus' (LNTH) Q1 Earnings
Lantheus Holdings, Inc. LNTH is scheduled to release first-quarter 2024 results on May 02, before the opening bell.
In the last reported quarter, Lantheus’ earnings per share of $1.75 surpassed the Zacks Consensus Estimate by 18.2%. Over the trailing four quarters, its earnings outperformed the Zacks Consensus Estimate on all occasions, the average being 14.8%.
Let’s see how things have shaped up prior to this announcement.
Factors at Play
On fourth-quarter 2023 earnings call, Lantheus’ management confirmed that it has been continuing to register a robust uptick in sales of PYLARIFY. This momentum of sales is expected to continue in the first quarter of 2024. The continued market leadership of PSMA positron emission tomography (PET) with PYLARIFY is expected to have continued in the first quarter of 2024 on the back of its positive impact of the PSMA-targeted PET imaging on the U.S. prostate cancer community amidst increasing competition.
Lantheus is also working to mitigate the impact of the expiration of PYLARIFY’s potential transitional pass-through at the end of 2024 to ensure PYLARIFY remains the number one utilized PSMA PET imaging agent. The company may provide an update on the plans for mitigating the risk in the upcoming quarter.
On the fourth-quarter earnings call, management informed that DEFINITY maintained its strong momentum in sales during the fourth quarter. The company’s TechneLite also showed promising growth. The momentum is likely to have continued for both products in the to-be-reported quarter, thus significantly boosting revenues.
During the fourth quarter, the company increased production of DEFINITY at its manufacturing facility leading to improved supply-chain redundancy and reduced cost. The effect is likely to have reflected in the first quarter of 2024.
We expect its F-18 labeled PET diagnostic imaging agent targeting tau-tangles for Alzheimer's disease, MK-6240, to have maintained its momentum in the to-be-reported quarter. On the fourth-quarter earnings call, Lantheus’ management confirmed that MK-6240 is now being used in more than 90 active clinical trials as a staging tool or as a biomaker.
In January 2023, Lantheus filed an abbreviated new drug application for its product PNT2003 (for the treatment of neuroendocrine tumors) and received FDA approval. However, Novartis filed a patent infringement lawsuit, which led to a 30-day stay on commercialization of PNT2003.
The company may provide an update regarding the commercialization plan for the candidate on its first-quarter earnings call. Lantheus estimates that PNT2003 has a current addressable U.S. market of approximately $1 billion.
In December 2023, the company announced positive top-line results from the Phase 3 SPLASH trial of PNT2002. The company continues to analyze the results and expects more mature overall survival data later this year prior to the potential submission of an NDA. The company also informed about its significant advancements across the radiopharmaceutical pipeline for both late and earlier-stage oncology therapeutics.
Lantheus recently formed a strategic partnership with Perspective Therapeutics that provides options to add radioligand therapy or RLT assets to the company’s pipeline and expand into alpha therapeutics. The company is also investing in its innovative diagnostic pipeline. These activities are likely to have led to higher operating expenses during the first quarter of 2024.
The Estimate Picture
Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, has higher chances of beating estimates. This is exactly the case here, as you can see below.
Earnings ESP: Lantheus has an Earnings ESP of +1.94%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3
Lantheus Holdings, Inc. Price and EPS Surprise
Lantheus Holdings, Inc. price-eps-surprise | Lantheus Holdings, Inc. Quote
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Edwards Lifesciences EW has an Earnings ESP of +1.02% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company’s shares have gained 12.7% year to date. EW’s earnings met estimates in the last reported quarter. Edwards Lifesciences has a four-quarter average earnings surprise of 0.80%.
SiBone SIBN has an Earnings ESP of +0.69% and a Zacks Rank of 3 at present.
Shares of the company have lost 26.6% year to date. SIBN’s earnings beat estimates in the last reported quarter. SiBone has a trailing four-quarter average earnings surprise of 19.98%.
Cardinal Health CAH has an Earnings ESP of +1.11% and a Zacks Rank of 3 at present.
The stock has risen 7.4% year to date. CAH’s earnings beat estimates in the last reported quarter. Cardinal Health has a four-quarter average earnings surprise of 15.64%.
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