Raptor Pharmaceuticals Corp. (RPTP) saw a big move in the last trading session, as the company’s shares fell by nearly 10% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for RPTP, as the stock is now up over 12% in the past one-month time frame.
On Mar 30, the company commenced an underwritten public offering of $75 million worth of shares of its common stock.
This slump shouldn’t be too much of a surprise to investors, as the biopharmaceutical company has seen 1 negative revision in the past few weeks and its current year loss consensus has also widened over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
RPTP currently holds a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Investors interested in the Medical – Biomedical/Genetics industry may consider a better-ranked stock like Acorda Therapeutics, Inc. (ACOR), carrying a Zacks Rank #1 (Strong Buy).
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