Intellia Therapeutics, Inc. (NTLA) shares rallied 6.3% in the last trading session to close at $14.83. 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 52.6% gain over the past four weeks.
Intellia’s price surge reflects increasing investor confidence following the company’s announcement that the FDA has lifted the clinical hold on the late-stage study, MAGNITUDE-2, evaluating nexiguran ziclumeran (nex-z) in patients with hereditary transthyretin amyloidosis with polyneuropathy (ATTRv-PN). NTLA has aligned with the FDA on specific study modifications and risk-mitigation measures for the study, including enhanced liver safety monitoring. Moreover, the company plans to resume patient enrollment and dosing as promptly as possible.
This company is expected to post quarterly loss of $0.99 per share in its upcoming report, which represents a year-over-year change of +20.2%. Revenues are expected to be $11.85 million, down 7.9% 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 Intellia 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 NTLA 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 >>>>
Intellia Therapeutics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Vanda Pharmaceuticals (VNDA), finished the last trading session 3.1% higher at $8.02. VNDA has returned 8.1% over the past month.
Vanda's consensus EPS estimate for the upcoming report has changed +7.7% over the past month to -$2.18. Compared to the company's year-ago EPS, this represents a change of -2625%. Vanda currently boasts a Zacks Rank of #2 (Buy).
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Intellia Therapeutics, Inc. (NTLA): Free Stock Analysis Report Vanda Pharmaceuticals Inc. (VNDA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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