uniQure (QURE) shares rallied 38.5% in the last trading session to close at $13. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 33.1% loss over the past four weeks.
The stock rallied after the FDA granted a Breakthrough Therapy designation to the company’s pipeline candidate, AMT-130, for the treatment of Huntington’s disease, a rare, inherited neurodegenerative disorder.
This human gene therapy company is expected to post quarterly loss of $1.07 per share in its upcoming report, which represents a year-over-year change of +21.3%. Revenues are expected to be $6 million, down 29.3% 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, Kiniksa Pharmaceuticals, Ltd. (KNSA), finished the last trading session 1.6% lower at $20.21. KNSA has returned -11% over the past month.
For Kiniksa Pharmaceuticals , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.06. This represents a change of +124% from what the company reported a year ago. Kiniksa Pharmaceuticals currently has a Zacks Rank of #2 (Buy).
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This article originally published on Zacks Investment Research (zacks.com).
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