PTC Therapeutics (PTCT) Moves 5.3% Higher: Will This Strength Last?
PTC Therapeutics (PTCT) shares ended the last trading session 5.3% higher at $22.47. 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 46.9% loss over the past four weeks.
Last month, the company announced further strategic restructuring and a reduction in workforce as part of portfolio prioritization. The company also emphasized its plans to submit the re-examination request for the CHMP opinion on Translarna. This might have driven shares higher.
This biopharmaceutical company is expected to post quarterly loss of $0.99 per share in its upcoming report, which represents a year-over-year change of +35.3%. Revenues are expected to be $206.6 million, down 4.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For PTC Therapeutics, the consensus EPS estimate for the quarter has been revised 173% 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 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 belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, Amylyx Pharmaceuticals, Inc. (AMLX), closed the last trading session 2.9% higher at $18.22. Over the past month, AMLX has returned -12.7%.
Amylyx Pharmaceuticals, Inc.'s consensus EPS estimate for the upcoming report has changed -3.3% over the past month to $0.42. Compared to the company's year-ago EPS, this represents a change of +145.7%. Amylyx Pharmaceuticals, Inc. currently boasts a Zacks Rank of #2 (Buy).
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PTC Therapeutics, Inc. (PTCT) : Free Stock Analysis Report
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