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uniQure (QURE) Surges 76.5%: Is This an Indication of Further Gains?
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uniQure (QURE - Free Report) shares soared 76.5% in the last trading session to close at $6.67. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 29.7% loss over the past four weeks.
The sudden soaring of the stock price was observed after uniQure announced updated interim data, including up to 24 months of follow-up data, from 29 treated patients enrolled in the ongoing early to mid-stage studies of AMT-130 for Huntington’s disease, in the United States and the EU. Results demonstrated a potential long-term, durable clinical benefit and reduction of a key marker of neurodegeneration upon treatment with the candidate. The company plans to dicuss these results with the FDA to seek potential expedited clinical development pathways and accelerated approval for AMT-130.
This human gene therapy company is expected to post quarterly loss of $1.24 per share in its upcoming report, which represents a year-over-year change of +13.9%. Revenues are expected to be $3.47 million, up 43.2% 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 been revised 3.1% 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 QURE going forward to see if this recent jump can turn into more strength down the road.
uniQure is part of the Zacks Medical - Biomedical and Genetics industry. Adaptive Biotechnologies (ADPT - Free Report) , another stock in the same industry, closed the last trading session 1.9% lower at $3.54. ADPT has returned 3.4% in the past month.
Adaptive Biotechnologies' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.32. Compared to the company's year-ago EPS, this represents a change of +3%. Adaptive Biotechnologies currently boasts a Zacks Rank of #2 (Buy).
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uniQure (QURE) Surges 76.5%: Is This an Indication of Further Gains?
uniQure (QURE - Free Report) shares soared 76.5% in the last trading session to close at $6.67. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 29.7% loss over the past four weeks.
The sudden soaring of the stock price was observed after uniQure announced updated interim data, including up to 24 months of follow-up data, from 29 treated patients enrolled in the ongoing early to mid-stage studies of AMT-130 for Huntington’s disease, in the United States and the EU. Results demonstrated a potential long-term, durable clinical benefit and reduction of a key marker of neurodegeneration upon treatment with the candidate. The company plans to dicuss these results with the FDA to seek potential expedited clinical development pathways and accelerated approval for AMT-130.
This human gene therapy company is expected to post quarterly loss of $1.24 per share in its upcoming report, which represents a year-over-year change of +13.9%. Revenues are expected to be $3.47 million, up 43.2% 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 been revised 3.1% 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 QURE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
uniQure is part of the Zacks Medical - Biomedical and Genetics industry. Adaptive Biotechnologies (ADPT - Free Report) , another stock in the same industry, closed the last trading session 1.9% lower at $3.54. ADPT has returned 3.4% in the past month.
Adaptive Biotechnologies' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.32. Compared to the company's year-ago EPS, this represents a change of +3%. Adaptive Biotechnologies currently boasts a Zacks Rank of #2 (Buy).