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Cytokinetics (CYTK) Soars 11.4%: Is Further Upside Left in the Stock?
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Cytokinetics (CYTK - Free Report) shares rallied 11.4% in the last trading session to close at $30.60. 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 25% loss over the past four weeks.
Shares of CYTK were gaining as the company presented positive baseline characteristics of patients in its pivotal phase III clinical study for aficamten in treating symptomatic obstructive hypertrophic cardiomyopathy (HCM) at a scientific conference. The study demonstrated promising results and potential market opportunities.
This biopharmaceutical company is expected to post quarterly loss of $0.72 per share in its upcoming report, which represents a year-over-year change of +43.8%. Revenues are expected to be $24.71 million, up 880.4% 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 Cytokinetics, 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 CYTK going forward to see if this recent jump can turn into more strength down the road.
Cytokinetics is part of the Zacks Medical - Biomedical and Genetics industry. Orchard Therapeutics PLC Sponsored ADR , another stock in the same industry, closed the last trading session 0.3% higher at $16. ORTX has returned 224.2% in the past month.
Orchard Therapeutics PLC Sponsored ADR's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.30. Compared to the company's year-ago EPS, this represents a change of +64.9%. Orchard Therapeutics PLC Sponsored ADR currently boasts a Zacks Rank of #3 (Hold).
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Cytokinetics (CYTK) Soars 11.4%: Is Further Upside Left in the Stock?
Cytokinetics (CYTK - Free Report) shares rallied 11.4% in the last trading session to close at $30.60. 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 25% loss over the past four weeks.
Shares of CYTK were gaining as the company presented positive baseline characteristics of patients in its pivotal phase III clinical study for aficamten in treating symptomatic obstructive hypertrophic cardiomyopathy (HCM) at a scientific conference. The study demonstrated promising results and potential market opportunities.
This biopharmaceutical company is expected to post quarterly loss of $0.72 per share in its upcoming report, which represents a year-over-year change of +43.8%. Revenues are expected to be $24.71 million, up 880.4% 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 Cytokinetics, 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 CYTK 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 >>>>
Cytokinetics is part of the Zacks Medical - Biomedical and Genetics industry. Orchard Therapeutics PLC Sponsored ADR , another stock in the same industry, closed the last trading session 0.3% higher at $16. ORTX has returned 224.2% in the past month.
Orchard Therapeutics PLC Sponsored ADR's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.30. Compared to the company's year-ago EPS, this represents a change of +64.9%. Orchard Therapeutics PLC Sponsored ADR currently boasts a Zacks Rank of #3 (Hold).