Repare Therapeutics Inc. (RPTX) Soars 8.8%: Is Further Upside Left in the Stock?
Repare Therapeutics Inc. (RPTX) shares ended the last trading session 8.8% higher at $8.41. 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 18.2% gain over the past four weeks.
The sudden soaring of the stock price is attributable to the positive investors' mindset regarding the company's pipeline progress. Repare is currently developing its oral ATR inhibitor, camonsertib, in mid-to-late-stage studies, in partnership with Roche. The company is also evaluating another candidate, lunresertib, to treat solid tumors in several early-stage studies, as a monotherapy or in combination. However, in the after-market hours on Feb 12, Repare announced that it is set to regain global development and commercialization rights to camonsertib in May 2024, following the termination of its collaboration agreement with Roche.
This company is expected to post quarterly loss of $0.41 per share in its upcoming report, which represents a year-over-year change of +45.3%. Revenues are expected to be $23.32 million, up 28.1% 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 Repare Therapeutics Inc., the consensus EPS estimate for the quarter has been revised 38.5% 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 RPTX 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 >>>>
Repare Therapeutics Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Emergent Biosolutions (EBS), another stock in the same industry, closed the last trading session 13.9% higher at $1.80. EBS has returned -22.9% in the past month.
For Emergent Biosolutions , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.31. This represents a change of +200% from what the company reported a year ago. Emergent Biosolutions currently has a Zacks Rank of #3 (Hold).
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