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uniQure (QURE) Moves 27% Higher: Will This Strength Last?
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uniQure (QURE - Free Report) shares ended the last trading session 27% higher at $19.54. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9% gain over the past four weeks.
Shares of the company were up after it reported safety and biomarker data from 10 patients enrolled in the lower-dose cohort of its ongoing phase I/II study evaluating AMT-130 for the treatment of Huntington’s disease.
This human gene therapy company is expected to post quarterly loss of $0.96 per share in its upcoming report, which represents a year-over-year change of -111.3%. Revenues are expected to be $19.66 million, down 95.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For uniQure, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on QURE going forward to see if this recent jump can turn into more strength down the road.
uniQure is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, TELA Bio, Inc. (TELA - Free Report) , finished the last trading session 7.1% higher at $6.96. TELA has returned -1.4% over the past month.
TELA Bio, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.60. Compared to the company's year-ago EPS, this represents a change of -5.3%. TELA Bio, Inc. currently boasts a Zacks Rank of #3 (Hold).
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uniQure (QURE) Moves 27% Higher: Will This Strength Last?
uniQure (QURE - Free Report) shares ended the last trading session 27% higher at $19.54. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9% gain over the past four weeks.
Shares of the company were up after it reported safety and biomarker data from 10 patients enrolled in the lower-dose cohort of its ongoing phase I/II study evaluating AMT-130 for the treatment of Huntington’s disease.
This human gene therapy company is expected to post quarterly loss of $0.96 per share in its upcoming report, which represents a year-over-year change of -111.3%. Revenues are expected to be $19.66 million, down 95.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For uniQure, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on QURE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
uniQure is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, TELA Bio, Inc. (TELA - Free Report) , finished the last trading session 7.1% higher at $6.96. TELA has returned -1.4% over the past month.
TELA Bio, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.60. Compared to the company's year-ago EPS, this represents a change of -5.3%. TELA Bio, Inc. currently boasts a Zacks Rank of #3 (Hold).