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Prothena (PRTA) Moves 9.3% Higher: Will This Strength Last?
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Prothena (PRTA - Free Report) shares ended the last trading session 9.3% higher at $21.48. 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 2.2% loss over the past four weeks.
Prothena owns a robust Alzheimer's Disease (AD) pipeline that spans next-generation antibody immunotherapy, small molecules and vaccines. The pipeline progress has been encouraging. The recent spotlight on the AD space has boosted prospects for Prothena as well. Investors are upbeat about the company’s promising AD candidates and the momentum should continue.
This drug developer is expected to post quarterly loss of $1.22 per share in its upcoming report, which represents a year-over-year change of -18.5%. Revenues are expected to be $2.46 million, down 38.8% 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 Prothena, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on PRTA going forward to see if this recent jump can turn into more strength down the road.
Prothena is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Alector (ALEC - Free Report) , finished the last trading session 9.1% higher at $4.57. ALEC has returned -20.3% over the past month.
For Alector, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.49. This represents a change of -2550% from what the company reported a year ago. Alector currently has a Zacks Rank of #3 (Hold).
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Prothena (PRTA) Moves 9.3% Higher: Will This Strength Last?
Prothena (PRTA - Free Report) shares ended the last trading session 9.3% higher at $21.48. 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 2.2% loss over the past four weeks.
Prothena owns a robust Alzheimer's Disease (AD) pipeline that spans next-generation antibody immunotherapy, small molecules and vaccines. The pipeline progress has been encouraging. The recent spotlight on the AD space has boosted prospects for Prothena as well. Investors are upbeat about the company’s promising AD candidates and the momentum should continue.
This drug developer is expected to post quarterly loss of $1.22 per share in its upcoming report, which represents a year-over-year change of -18.5%. Revenues are expected to be $2.46 million, down 38.8% 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 Prothena, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on PRTA 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 >>>>
Prothena is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Alector (ALEC - Free Report) , finished the last trading session 9.1% higher at $4.57. ALEC has returned -20.3% over the past month.
For Alector, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.49. This represents a change of -2550% from what the company reported a year ago. Alector currently has a Zacks Rank of #3 (Hold).