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PTC Therapeutics (PTCT) Surges 11.2%: Is This an Indication of Further Gains?
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PTC Therapeutics (PTCT - Free Report) shares ended the last trading session 11.2% higher at $49.29. 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 9.2% loss over the past four weeks.
The recent uptrend in the stock price is likely due to the FDA approval of PTCT’s Sephience (sepiapterin) for the treatment of phenylketonuria (PKU) in both children and adults. The approval, which includes broad labeling for patients as young as one month with sepiapterin-responsive PKU, marks a significant milestone for the company and the rare disease community. The FDA approval was based on strong efficacy and safety data from the phase III APHENITY study. With marketing approval already granted in the EU and regulatory reviews underway in key international markets for the PKU indication, Sephience is poised to become a major growth driver for the company.
This biopharmaceutical company is expected to post quarterly loss of $1.06 per share in its upcoming report, which represents a year-over-year change of +8.6%. Revenues are expected to be $170.66 million, down 8.6% 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 PTC Therapeutics, the consensus EPS estimate for the quarter has been revised 8.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on PTCT going forward to see if this recent jump can turn into more strength down the road.
PTC Therapeutics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Prothena (PRTA - Free Report) , finished the last trading session 0.9% higher at $6.93. PRTA has returned 13.2% over the past month.
Prothena's consensus EPS estimate for the upcoming report has changed -4.4% over the past month to -$1.11. Compared to the company's year-ago EPS, this represents a change of -191%. Prothena currently boasts a Zacks Rank of #3 (Hold).
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PTC Therapeutics (PTCT) Surges 11.2%: Is This an Indication of Further Gains?
PTC Therapeutics (PTCT - Free Report) shares ended the last trading session 11.2% higher at $49.29. 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 9.2% loss over the past four weeks.
The recent uptrend in the stock price is likely due to the FDA approval of PTCT’s Sephience (sepiapterin) for the treatment of phenylketonuria (PKU) in both children and adults. The approval, which includes broad labeling for patients as young as one month with sepiapterin-responsive PKU, marks a significant milestone for the company and the rare disease community. The FDA approval was based on strong efficacy and safety data from the phase III APHENITY study. With marketing approval already granted in the EU and regulatory reviews underway in key international markets for the PKU indication, Sephience is poised to become a major growth driver for the company.
This biopharmaceutical company is expected to post quarterly loss of $1.06 per share in its upcoming report, which represents a year-over-year change of +8.6%. Revenues are expected to be $170.66 million, down 8.6% 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 PTC Therapeutics, the consensus EPS estimate for the quarter has been revised 8.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on PTCT 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 >>>>
PTC Therapeutics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Prothena (PRTA - Free Report) , finished the last trading session 0.9% higher at $6.93. PRTA has returned 13.2% over the past month.
Prothena's consensus EPS estimate for the upcoming report has changed -4.4% over the past month to -$1.11. Compared to the company's year-ago EPS, this represents a change of -191%. Prothena currently boasts a Zacks Rank of #3 (Hold).