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PTC Therapeutics (PTCT) Surges 16.5%: Is This an Indication of Further Gains?
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PTC Therapeutics (PTCT - Free Report) shares soared 16.5% in the last trading session to close at $40.77. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.4% gain over the past four weeks.
PTC Therapeutics announced positive results from long-term treatment studies on vatiquinone for the treatment of Friedreich ataxia (FA).
The company also announced regulatory progress on vatiquinone for the treatment of FA. PTCT plans to submit the new drug application (NDA) for vatiquinone for the treatment of FA in December 2024. The NDA will include results from the placebo-controlled portion of the MOVE-FA study. It will also include confirmatory evidence from the two long-term treatment analyses, as well mechanistic data demonstrating treatment effect on biomarkers of disease pathology.
This biopharmaceutical company is expected to post quarterly loss of $1.53 per share in its upcoming report, which represents a year-over-year change of +13.1%. Revenues are expected to be $173.81 million, down 11.6% 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 PTC Therapeutics, 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 PTCT going forward to see if this recent jump can turn into more strength down the road.
PTC Therapeutics is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, USANA Health Sciences (USNA - Free Report) , finished the last trading session 1.7% higher at $36.07. USNA has returned -1.8% over the past month.
USANA Health's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.49. Compared to the company's year-ago EPS, this represents a change of -17%. USANA Health currently boasts a Zacks Rank of #3 (Hold).
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PTC Therapeutics (PTCT) Surges 16.5%: Is This an Indication of Further Gains?
PTC Therapeutics (PTCT - Free Report) shares soared 16.5% in the last trading session to close at $40.77. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.4% gain over the past four weeks.
PTC Therapeutics announced positive results from long-term treatment studies on vatiquinone for the treatment of Friedreich ataxia (FA).
The company also announced regulatory progress on vatiquinone for the treatment of FA. PTCT plans to submit the new drug application (NDA) for vatiquinone for the treatment of FA in December 2024. The NDA will include results from the placebo-controlled portion of the MOVE-FA study. It will also include confirmatory evidence from the two long-term treatment analyses, as well mechanistic data demonstrating treatment effect on biomarkers of disease pathology.
This biopharmaceutical company is expected to post quarterly loss of $1.53 per share in its upcoming report, which represents a year-over-year change of +13.1%. Revenues are expected to be $173.81 million, down 11.6% 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 PTC Therapeutics, 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 PTCT 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 >>>>
PTC Therapeutics is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, USANA Health Sciences (USNA - Free Report) , finished the last trading session 1.7% higher at $36.07. USNA has returned -1.8% over the past month.
USANA Health's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.49. Compared to the company's year-ago EPS, this represents a change of -17%. USANA Health currently boasts a Zacks Rank of #3 (Hold).