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Strength Seen in Galapagos NV (GLPG): Can Its 5% Jump Turn into More Strength?
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Galapagos NV (GLPG - Free Report) shares rallied 5% in the last trading session to close at $65.13. 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 0.1% gain over the past four weeks.
The rise in share prices is attributable to positive investor expectations for Galapagos’ progress with its sole-marketed drug and JAK inhibitor, Jyseleca (filgotinib). The medication is currently approved in the European Union, Great Britain and Japan for two indications – rheumatoid arthritis and ulcerative colitis. A global phase III program is evaluating Jyseleca in Crohn’s disease.
This company is expected to post quarterly loss of $2.05 per share in its upcoming report, which represents a year-over-year change of -754.2%. Revenues are expected to be $57 million, down 58.5% 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 Galapagos NV, 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 GLPG going forward to see if this recent jump can turn into more strength down the road.
Galapagos NV is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Gritstone bio Inc. (GRTS - Free Report) , finished the last trading session 2.4% higher at $4.22. GRTS has returned -10% over the past month.
Gritstone bio Inc.'s consensus EPS estimate for the upcoming report has changed +2.9% over the past month to -$0.43. Compared to the company's year-ago EPS, this represents a change of -530%. Gritstone bio Inc. currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in Galapagos NV (GLPG): Can Its 5% Jump Turn into More Strength?
Galapagos NV (GLPG - Free Report) shares rallied 5% in the last trading session to close at $65.13. 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 0.1% gain over the past four weeks.
The rise in share prices is attributable to positive investor expectations for Galapagos’ progress with its sole-marketed drug and JAK inhibitor, Jyseleca (filgotinib). The medication is currently approved in the European Union, Great Britain and Japan for two indications – rheumatoid arthritis and ulcerative colitis. A global phase III program is evaluating Jyseleca in Crohn’s disease.
This company is expected to post quarterly loss of $2.05 per share in its upcoming report, which represents a year-over-year change of -754.2%. Revenues are expected to be $57 million, down 58.5% 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 Galapagos NV, 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 GLPG 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 >>>>
Galapagos NV is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Gritstone bio Inc. (GRTS - Free Report) , finished the last trading session 2.4% higher at $4.22. GRTS has returned -10% over the past month.
Gritstone bio Inc.'s consensus EPS estimate for the upcoming report has changed +2.9% over the past month to -$0.43. Compared to the company's year-ago EPS, this represents a change of -530%. Gritstone bio Inc. currently boasts a Zacks Rank of #3 (Hold).