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uniQure (QURE) Stock Jumps 8.1%: Will It Continue to Soar?
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uniQure (QURE - Free Report) shares rallied 8.1% in the last trading session to close at $20.11. 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 23.5% gain over the past four weeks.
Last month, the company completed patient enrollment in the first two cohorts of a phase I/II study evaluating AMT-130, a potential one-time gene-therapy for the treatment of early stage Huntington’s disease. This might have been driving the share price rally.
This human gene therapy company is expected to post quarterly loss of $0.61 per share in its upcoming report, which represents a year-over-year change of +33%. Revenues are expected to be $41.23 million, up 9062.2% 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 uniQure, the consensus EPS estimate for the quarter has been revised 106.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on QURE going forward to see if this recent jump can turn into more strength down the road.
uniQure is part of the Zacks Medical - Biomedical and Genetics industry. Clene Inc. (CLNN - Free Report) , another stock in the same industry, closed the last trading session 0.3% higher at $3.13. CLNN has returned 28.9% in the past month.
For Clene Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.18. This represents a change of +5.3% from what the company reported a year ago. Clene Inc. currently has a Zacks Rank of #3 (Hold).
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uniQure (QURE) Stock Jumps 8.1%: Will It Continue to Soar?
uniQure (QURE - Free Report) shares rallied 8.1% in the last trading session to close at $20.11. 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 23.5% gain over the past four weeks.
Last month, the company completed patient enrollment in the first two cohorts of a phase I/II study evaluating AMT-130, a potential one-time gene-therapy for the treatment of early stage Huntington’s disease. This might have been driving the share price rally.
This human gene therapy company is expected to post quarterly loss of $0.61 per share in its upcoming report, which represents a year-over-year change of +33%. Revenues are expected to be $41.23 million, up 9062.2% 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 uniQure, the consensus EPS estimate for the quarter has been revised 106.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on QURE 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 >>>>
uniQure is part of the Zacks Medical - Biomedical and Genetics industry. Clene Inc. (CLNN - Free Report) , another stock in the same industry, closed the last trading session 0.3% higher at $3.13. CLNN has returned 28.9% in the past month.
For Clene Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.18. This represents a change of +5.3% from what the company reported a year ago. Clene Inc. currently has a Zacks Rank of #3 (Hold).