Intercept Pharmaceuticals shares ended the last trading session 79.2% higher at $18.71. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.8% loss over the past four weeks.
Italy based pharmaceutical company Alfasigma S.p.A announced that it will acquire Intercept Pharmaceuticals for $19 per share in cash. The purchase price of $19 represented a premium of 82% to Intercept’s closing stock price on Sept 25, 2023. Investors cheered the premium offered and shares surged on the same.
This drugmaker is expected to post quarterly loss of $0.28 per share in its upcoming report, which represents a year-over-year change of +90.8%. Revenues are expected to be $87.82 million, up 13.2% 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 Intercept, 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 ICPT 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 >>>>
Intercept belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Orchard Therapeutics PLC Sponsored ADR , closed the last trading session 3.8% higher at $7.64. Over the past month, ORTX has returned 47.2%.
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 #2 (Buy).
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Intercept (ICPT) Stock Jumps 79.2%: Will It Continue to Soar?
Intercept Pharmaceuticals shares ended the last trading session 79.2% higher at $18.71. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.8% loss over the past four weeks.
Italy based pharmaceutical company Alfasigma S.p.A announced that it will acquire Intercept Pharmaceuticals for $19 per share in cash. The purchase price of $19 represented a premium of 82% to Intercept’s closing stock price on Sept 25, 2023. Investors cheered the premium offered and shares surged on the same.
This drugmaker is expected to post quarterly loss of $0.28 per share in its upcoming report, which represents a year-over-year change of +90.8%. Revenues are expected to be $87.82 million, up 13.2% 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 Intercept, 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 ICPT 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 >>>>
Intercept belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Orchard Therapeutics PLC Sponsored ADR , closed the last trading session 3.8% higher at $7.64. Over the past month, ORTX has returned 47.2%.
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 #2 (Buy).