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Cytokinetics (CYTK) shares rallied 5.4% in the last trading session to close at $45.43. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 15.7% loss over the past four weeks.
The company has made good pipeline progress of late. Lead candidate aficamten is under review in the United States for the treatment of obstructive hypertrophic cardiomyopathy. Other pipeline candidates are also advancing well.
This biopharmaceutical company is expected to post quarterly loss of $1.41 per share in its upcoming report, which represents a year-over-year change of -6%. Revenues are expected to be $2.15 million, up 155.7% 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 Cytokinetics, the consensus EPS estimate for the quarter has been revised 3.8% 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 CYTK 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 >>>>
Cytokinetics is part of the Zacks Medical - Biomedical and Genetics industry. Celldex Therapeutics (CLDX), another stock in the same industry, closed the last trading session 1.2% lower at $19.64. CLDX has returned -12% in the past month.
For Celldex , the consensus EPS estimate for the upcoming report has changed -16% over the past month to -$0.75. This represents a change of -33.9% from what the company reported a year ago. Celldex currently has a Zacks Rank of #3 (Hold).
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Cytokinetics, Incorporated (CYTK) : Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).