Orchard Therapeutics: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Orchard Therapeutics (NASDAQ:ORTX) reported Q3 earnings with an EPS of $-0.15, beating estimates by 80% compared to the expected $-0.75. However, revenue declined by $218 thousand from the same period last year. Following last quarter's earnings beat, the share price increased by 1.72% the next day.
November 13, 2023 | 12:15 pm
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Orchard Therapeutics reported a significant earnings beat but experienced a decrease in revenue compared to last year. Historically, the stock has reacted positively to earnings beats.
The substantial beat on earnings estimates is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price, similar to the last quarter's reaction. However, the decline in revenue could temper some of the positive sentiment.
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