We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Strength Seen in Ultragenyx (RARE): Can Its 6.7% Jump Turn into More Strength?
Read MoreHide Full Article
Ultragenyx (RARE - Free Report) shares soared 6.7% in the last trading session to close at $40.75. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.9% loss over the past four weeks.
The sudden soaring of stock prices can be attributed to the positive momentum built around the company's pipeline. Ultragenyx expects to achieve several milestones in the course of this year. The company is currently evaluating UX143 in a phase II/III study dosing patients for the treatment of osteogenesis imperfecta. Topline data from the study is expected in mid-2023. Ultragenyx is also conducting a phase I/II dose exploration study to evaluate GTX-102 as a treatment for Angelman syndrome. Patient screening is currently ongoing for enrollment in the study cohorts and the next data update is expected later in this year.
This biotechnology company is expected to post quarterly loss of $1.98 per share in its upcoming report, which represents a year-over-year change of +9.6%. Revenues are expected to be $104.75 million, up 31% 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 Ultragenyx, the consensus EPS estimate for the quarter has been revised 5% 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 RARE going forward to see if this recent jump can turn into more strength down the road.
Ultragenyx belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Genmab A/S Sponsored ADR (GMAB - Free Report) , closed the last trading session 3.3% higher at $42.94. Over the past month, GMAB has returned 16%.
For Genmab A/S Sponsored ADR, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.13. This represents a change of +18.2% from what the company reported a year ago. Genmab A/S Sponsored ADR currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Strength Seen in Ultragenyx (RARE): Can Its 6.7% Jump Turn into More Strength?
Ultragenyx (RARE - Free Report) shares soared 6.7% in the last trading session to close at $40.75. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.9% loss over the past four weeks.
The sudden soaring of stock prices can be attributed to the positive momentum built around the company's pipeline. Ultragenyx expects to achieve several milestones in the course of this year. The company is currently evaluating UX143 in a phase II/III study dosing patients for the treatment of osteogenesis imperfecta. Topline data from the study is expected in mid-2023. Ultragenyx is also conducting a phase I/II dose exploration study to evaluate GTX-102 as a treatment for Angelman syndrome. Patient screening is currently ongoing for enrollment in the study cohorts and the next data update is expected later in this year.
This biotechnology company is expected to post quarterly loss of $1.98 per share in its upcoming report, which represents a year-over-year change of +9.6%. Revenues are expected to be $104.75 million, up 31% 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 Ultragenyx, the consensus EPS estimate for the quarter has been revised 5% 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 RARE 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 >>>>
Ultragenyx belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Genmab A/S Sponsored ADR (GMAB - Free Report) , closed the last trading session 3.3% higher at $42.94. Over the past month, GMAB has returned 16%.
For Genmab A/S Sponsored ADR, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.13. This represents a change of +18.2% from what the company reported a year ago. Genmab A/S Sponsored ADR currently has a Zacks Rank of #3 (Hold).