Shares of commercial pharmaceuticals company Jaguar Health, Inc. (JAGX) declined 6.8% on Friday as the company reported weaker-than-expected results for the second quarter ended June 30, 2021.
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Quarterly revenues stood at $4.93 million, down 22.2% from the year-ago quarter. Also, the revenue figure missed the consensus estimate of $4.94 million by a whisker. The decline in revenues was primarily due to the limited short-term adverse effects of the company’s transition to primarily selling its Mytesi products directly through select specialty pharmacies rather than to wholesalers.
The company reported a loss per share of $0.10, compared to a loss of $0.44 per share a year ago. Analysts had expected a loss of $0.04 per share.
In other key operating metrics, the company’s Mytesi prescription volume declined 9% in the second quarter of 2021. (See Jaguar Health stock chart on TipRanks)
Last month, Cantor Fitzgerald analyst Louise Chen initiated coverage on the stock with a Buy rating and a price target of $5.
The analyst believes that Jaguar Health’s Mytesi product pipeline can be beneficial for the company as it has multiple uses in gastrointestinal disorders of humans and animals. Shares have gained 134% over the past year.
The stock has a Moderate Buy consensus based on 1 Buy. The average Jaguar Health price target of $5 implies 303.2% upside potential.
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