PTC Therapeutics (PTCT) shares ended the last trading session 11.1% higher at $41.45. 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 9.6% gain over the past four weeks.
The stock rallied, driven by optimism over the initiation of the phase II PIVOT-HD study, which is evaluating oral, small-molecule splicing modifier, PTC518, in people with Huntington’s disease.
This biopharmaceutical company is expected to post quarterly loss of $1.57 per share in its upcoming report, which represents a year-over-year change of +14.2%. Revenues are expected to be $146.49 million, up 24.2% 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 PTC Therapeutics, 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 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 – Drugs industry. One other stock in the same industry, Assertio (ASRT), finished the last trading session 2.4% lower at $2.80. ASRT has returned 25.1% over the past month.
For Assertio
, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.12. This represents a change of -25% from what the company reported a year ago. Assertio currently has a Zacks Rank of #1 (Strong Buy).
Just Released: Zacks Top 10 Stocks for 2022
In addition to the investment ideas discussed above, would you like to know about our 10 top buy-and-hold tickers for the entirety of 2022?
Last year’s 2021
Zacks Top 10 Stocks
portfolio returned gains as high as +147.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys
Access Zacks Top 10 Stocks for 2022 today >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report