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Arcturus Therapeutics (ARCT) Surges 8.7%: Is This an Indication of Further Gains?
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Arcturus Therapeutics (ARCT - Free Report) shares soared 8.7% in the last trading session to close at $19.62. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4% gain over the past four weeks.
The sudden uptick can be attributed to positive investor mindset regarding the potential of ARCT’s wholly-owned pipeline comprising two mRNA therapeutic candidates, ARCT-810 and ARCT-032, undergoing mid-stage development for ornithine transcarbamylase deficiency and cystic fibrosis, respectively. Arcturus, in partnership with renowned vaccine company CSL Seqirus, has developed the first sa-mRNA COVID-19 vaccine, Kostaive, in the world. The drug is currently approved in Japan and the EU.
This pharmaceutical company is expected to post quarterly loss of $1.09 per share in its upcoming report, which represents a year-over-year change of -319.2%. Revenues are expected to be $16.67 million, down 60% 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 Arcturus Therapeutics, the consensus EPS estimate for the quarter has been revised 13% 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 ARCT going forward to see if this recent jump can turn into more strength down the road.
Arcturus Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. Anika Therapeutics (ANIK - Free Report) , another stock in the same industry, closed the last trading session 3.2% higher at $8.94. ANIK has returned 3.5% in the past month.
Anika's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.02. Compared to the company's year-ago EPS, this represents a change of +108%. Anika currently boasts a Zacks Rank of #2 (Buy).
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Arcturus Therapeutics (ARCT) Surges 8.7%: Is This an Indication of Further Gains?
Arcturus Therapeutics (ARCT - Free Report) shares soared 8.7% in the last trading session to close at $19.62. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4% gain over the past four weeks.
The sudden uptick can be attributed to positive investor mindset regarding the potential of ARCT’s wholly-owned pipeline comprising two mRNA therapeutic candidates, ARCT-810 and ARCT-032, undergoing mid-stage development for ornithine transcarbamylase deficiency and cystic fibrosis, respectively. Arcturus, in partnership with renowned vaccine company CSL Seqirus, has developed the first sa-mRNA COVID-19 vaccine, Kostaive, in the world. The drug is currently approved in Japan and the EU.
This pharmaceutical company is expected to post quarterly loss of $1.09 per share in its upcoming report, which represents a year-over-year change of -319.2%. Revenues are expected to be $16.67 million, down 60% 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 Arcturus Therapeutics, the consensus EPS estimate for the quarter has been revised 13% 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 ARCT 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 >>>>
Arcturus Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. Anika Therapeutics (ANIK - Free Report) , another stock in the same industry, closed the last trading session 3.2% higher at $8.94. ANIK has returned 3.5% in the past month.
Anika's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.02. Compared to the company's year-ago EPS, this represents a change of +108%. Anika currently boasts a Zacks Rank of #2 (Buy).