👀 Copy Legendary Investors' Portfolios in One ClickCopy For Free

Cumberland Pharmaceuticals director Caroline Young buys $755 in stock

Published 05/12/2024, 23:10
CPIX
-

Caroline Young, a director at Cumberland Pharmaceuticals Inc. (NASDAQ:CPIX), has acquired shares of the company, according to a recent SEC filing. The micro-cap pharmaceutical company, currently valued at $16.7 million, has seen its stock decline by about 34% year-to-date, making this insider purchase particularly noteworthy. According to InvestingPro analysis, management has been actively buying back shares, suggesting confidence in the company's prospects. The transactions, which were executed under a pre-arranged trading plan, took place throughout November 2024. Young purchased a total of 670 shares of common stock, with the transaction prices ranging from $1.07 to $1.32 per share. The total value of these acquisitions amounted to $755. Following these transactions, Young now directly owns 29,664 shares of Cumberland Pharmaceuticals. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US equities.

In other recent news, Cumberland Pharmaceuticals reported steady growth in its Q3 earnings, with net revenues reaching $9.1 million. This financial performance was bolstered by robust sales of FDA-approved brands such as Kristalose and Sancuso, despite the challenges posed by Hurricane Helene that impacted Vibativ's performance. The company also faced a setback with the exclusion of Caldolor from non-opioid Medicare reimbursement.

In addition to these developments, Cumberland Pharmaceuticals is optimistic about its pipeline, including a new delirium treatment from the MENDING trial and the ifetroban product candidate. The company is also advocating for the inclusion of Caldolor in Medicare reimbursement and has launched a new sampling program for Sancuso.

The company's balance sheet showed $77 million in total assets, with $17.5 million in cash and total liabilities of $52 million. Cumberland Pharmaceuticals repurchased 72,000 shares in Q3 and holds significant tax net operating loss carryforwards. Despite the mentioned challenges, the company remains optimistic about its future, citing the potential of its products to address unmet medical needs.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.