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Endocyte (ECYT) Posts Narrower-Than-Expected Loss in Q2
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Endocyte, Inc. incurred a loss of 17 cents per share in the second quarter of 2018, narrower than the Zacks Consensus Estimate of a loss of 19 cents. The figure was narrower than the year-ago loss of 28 cents.
The company earned collaboration revenues of $0.013 million, up 7.1% in the reported quarter.
Year to date, Endocyte’s shares have rallied 258.0% against the industry’s decline of 1.2%.
Quarterly Details
Research and development (R&D) expenses decreased 11.9% year over year to $7.6 million, courtesy of the workforce reduction as part of the company’s restructuring plan, and the discontinuation of certain research and development activities.
General and administrative expenses increased 28.6% year over year to $4.6 million due to an increase of $0.5 million in compensation expense.
Pipeline Update
The company’s key pipeline candidate is 177Lu-PSMA-617, a first-in-class radioligand and therapeutic (RLT) that targets prostate-specific membrane antigen. The company acquired exclusive worldwide rights to develop and commercialize 177Lu-PSMA-617 from ABX GmbH in October 2017. The candidate holds more than $1 billion market opportunity and its development is now a priority for the company.
The company initiated the phase III VISION study of 177Lu-PSMA-617 during the second quarter.
The company expects to file an investigational new drug application (IND) for phase I study of EC17/CAR T-cell therapy in patients with osteosarcoma in the fourth quarter of 2018.
Gilead’s earnings per share estimates have increased from $6.11 to $6.57 for 2018 and from $6.36 to $6.48 for 2019 over the past 30 days. The company delivered a positive earnings surprise in three of the trailing four quarters with an average beat of 6.43%. The stock has rallied 8.7% so far this year.
Utlragenyx’s loss per share estimates have narrowed from $5.32 to $5.30 for 2018 and from $6.88 to $6.80 for 2019 over the past 30 days. The company delivered a positive earnings surprise in three of the trailing four quarters with an average beat of 47.6%. The stock has rallied 70.6% so far this year.
Vanda’s earnings per share estimates have increased from 18 cents to 20 cents for 2018 and from 77 cents to 80 cents for 2019 over the past 30 days. The company delivered a positive earnings surprise in all of the trailing four quarters with an average beat of 133.1%. The stock has rallied 37.2% so far this year.
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Endocyte (ECYT) Posts Narrower-Than-Expected Loss in Q2
Endocyte, Inc. incurred a loss of 17 cents per share in the second quarter of 2018, narrower than the Zacks Consensus Estimate of a loss of 19 cents. The figure was narrower than the year-ago loss of 28 cents.
The company earned collaboration revenues of $0.013 million, up 7.1% in the reported quarter.
Year to date, Endocyte’s shares have rallied 258.0% against the industry’s decline of 1.2%.
Quarterly Details
Research and development (R&D) expenses decreased 11.9% year over year to $7.6 million, courtesy of the workforce reduction as part of the company’s restructuring plan, and the discontinuation of certain research and development activities.
General and administrative expenses increased 28.6% year over year to $4.6 million due to an increase of $0.5 million in compensation expense.
Pipeline Update
The company’s key pipeline candidate is 177Lu-PSMA-617, a first-in-class radioligand and therapeutic (RLT) that targets prostate-specific membrane antigen. The company acquired exclusive worldwide rights to develop and commercialize 177Lu-PSMA-617 from ABX GmbH in October 2017. The candidate holds more than $1 billion market opportunity and its development is now a priority for the company.
The company initiated the phase III VISION study of 177Lu-PSMA-617 during the second quarter.
The company expects to file an investigational new drug application (IND) for phase I study of EC17/CAR T-cell therapy in patients with osteosarcoma in the fourth quarter of 2018.
Endocyte, Inc. Price, Consensus and EPS Surprise
Endocyte, Inc. Price, Consensus and EPS Surprise | Endocyte, Inc. Quote
Zacks Rank & Other Stocks to Consider
Endocyte carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks worth considering are Gilead Sciences Inc. (GILD - Free Report) , Utlragenyx Pharmaceutical Inc. (RARE - Free Report) and Vanda Pharmaceuticals Inc. (VNDA - Free Report) . All of them carry a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Gilead’s earnings per share estimates have increased from $6.11 to $6.57 for 2018 and from $6.36 to $6.48 for 2019 over the past 30 days. The company delivered a positive earnings surprise in three of the trailing four quarters with an average beat of 6.43%. The stock has rallied 8.7% so far this year.
Utlragenyx’s loss per share estimates have narrowed from $5.32 to $5.30 for 2018 and from $6.88 to $6.80 for 2019 over the past 30 days. The company delivered a positive earnings surprise in three of the trailing four quarters with an average beat of 47.6%. The stock has rallied 70.6% so far this year.
Vanda’s earnings per share estimates have increased from 18 cents to 20 cents for 2018 and from 77 cents to 80 cents for 2019 over the past 30 days. The company delivered a positive earnings surprise in all of the trailing four quarters with an average beat of 133.1%. The stock has rallied 37.2% so far this year.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>