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Repare Therapeutics Inc. (RPTX) Stock Jumps 9.1%: Will It Continue to Soar?
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Repare Therapeutics Inc. (RPTX - Free Report) shares soared 9.1% in the last trading session to close at $11.31. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.9% loss over the past four weeks.
Earlier this week, the company presented updated clinical data from its ongoing phase I/II TRESR study evaluating RP-3500 as monotherapy for the treatment of solid tumors. Data from the same showed that treatment with RP-3500 led to robust activity in ovarian cancer demonstrating 75% clinical benefit rate, with 25% overall response rate and median progression-free survival of 35 weeks. This might have been driving the share price rally.
This company is expected to post quarterly loss of $0.89 per share in its upcoming report, which represents a year-over-year change of -53.5%. Revenues are expected to be $2.13 million, up 1154.7% 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 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 RPTX going forward to see if this recent jump can turn into more strength down the road.
Repare Therapeutics Inc. is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Palatin Technologies, Inc. (PTN - Free Report) , finished the last trading session 1.3% lower at $0.45. PTN has returned 23.2% over the past month.
For Palatin Technologies, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. This represents a change of -50% from what the company reported a year ago. Palatin Technologies, Inc. currently has a Zacks Rank of #4 (Sell).
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Repare Therapeutics Inc. (RPTX) Stock Jumps 9.1%: Will It Continue to Soar?
Repare Therapeutics Inc. (RPTX - Free Report) shares soared 9.1% in the last trading session to close at $11.31. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.9% loss over the past four weeks.
Earlier this week, the company presented updated clinical data from its ongoing phase I/II TRESR study evaluating RP-3500 as monotherapy for the treatment of solid tumors. Data from the same showed that treatment with RP-3500 led to robust activity in ovarian cancer demonstrating 75% clinical benefit rate, with 25% overall response rate and median progression-free survival of 35 weeks. This might have been driving the share price rally.
This company is expected to post quarterly loss of $0.89 per share in its upcoming report, which represents a year-over-year change of -53.5%. Revenues are expected to be $2.13 million, up 1154.7% 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 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 RPTX 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 >>>>
Repare Therapeutics Inc. is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Palatin Technologies, Inc. (PTN - Free Report) , finished the last trading session 1.3% lower at $0.45. PTN has returned 23.2% over the past month.
For Palatin Technologies, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. This represents a change of -50% from what the company reported a year ago. Palatin Technologies, Inc. currently has a Zacks Rank of #4 (Sell).