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Siga Technologies Inc. (SIGA) closed at $7.88 in the latest trading session, marking a -1.38% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.03%. Elsewhere, the Dow saw a downswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.2%.
Coming into today, shares of the company had lost 23.47% in the past month. In that same time, the Medical sector gained 2.67%, while the S&P 500 gained 1.54%.
Market participants will be closely following the financial results of Siga Technologies Inc. in its upcoming release.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.01 per share and revenue of $160.46 million. These totals would mark changes of +6.32% and +14.68%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Siga Technologies Inc. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Siga Technologies Inc. is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Siga Technologies Inc. has a Forward P/E ratio of 7.91 right now. This indicates a discount in contrast to its industry's Forward P/E of 15.35.
The Medical - Drugs industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 72, placing it within the top 29% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Zacks Investment Research
The latest trading session saw Siga Technologies Inc. (SIGA) ending at $7.51, denoting a -0.53% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 1.07%. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 2.17%.
Heading into today, shares of the company had lost 19.94% over the past month, lagging the Medical sector's gain of 3.34% and the S&P 500's gain of 2.92% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Siga Technologies Inc. in its upcoming earnings disclosure.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.01 per share and a revenue of $160.46 million, signifying shifts of +6.32% and +14.68%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Siga Technologies Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Siga Technologies Inc. is currently a Zacks Rank #3 (Hold).
Looking at valuation, Siga Technologies Inc. is presently trading at a Forward P/E ratio of 7.48. This represents a discount compared to its industry's average Forward P/E of 14.98.
The Medical - Drugs industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 88, finds itself in the top 35% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Zacks Investment Research
The World Health Organization announced a new strategic preparedness and response plan Monday in the fight against mpox, two weeks after declaring a public health emergency on the outbreak.
What Happened: The WHO announced a new plan in its fight against the outbreak of mpox. The plan comes as several companies are ramping up efforts to launch or increase output of mpox vaccines and treatment options.
The plan calls for $135 million in funding for the WHO response and for member states and partners. Among the partners are communities, researchers and the Africa Centres for Disease Control and Prevention.
Funding will help with surveillance, prevention, readiness and the response to fight outbreaks of mpox, the WHO said.
The WHO said it will take part in strategic vaccination efforts to focus on high-risk individuals, which includes health care workers and those with close contact to recent cases.
"The mpox outbreaks in the Democratic Republic of the Congo and neighboring countries can be controlled, and can be stopped," WHO Director-General Dr. Tedros Adhanom Ghebreyesus said.
"Doing so requires a comprehensive and coordinated plan of action between international agencies and national and local partners, civil society, researchers and manufacturers, and our Member States."
A virtual scientific conference will be held on Aug. 29 and Aug 30 to share mpox research and outbreak control goals from the WHO, Africa CDC and the National Institute of Allergy and Infectious Diseases.
Why It's Important: The six-month plan is viewed as the critical step in stopping mpox outbreaks from spreading further or faster.
On Monday, Germany announced it will donate 100,000 mpox vaccine doses from its stockpile to help with the outbreak prevention, as reported by Reuters. Germany will keep a minimum stock of mpox vaccines, the report said.
There have been 3,326 confirmed cases of mpox in Africa in 2024, with 590 deaths across 12 countries, according to the Africa Centres for Disease Control and Prevention, as reported by The Hill. A total of 17,979 suspected mpox cases have been reported.
Shares of companies that have mpox vaccines or treatments have been highly volatile over the last two weeks. The list includes Bavarian Nordic and Emergent Biosolutions , both of which have WHO-recommended vaccines
GeoVax Labs and SIGA Technologies have also been highly volatile. GeoVax has a mpox vaccine in clinical development. SIGA Technologies has Tpoxx, which is a treatment for mpox.
Read Next:
Illustration via Shutterstock.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
On Wednesday, SIGA Technologies, Inc. announced a new contract with the U.S. Department of Defense (DOD) to procure approximately $9 million of TPOXX.
This award is comprised primarily of oral TPOXX, with a small amount of intravenous (IV) TPOXX, and represents the third procurement contract award from the DOD over the past three years.
The company also received approximately $27 million to develop the post-exposure Prophylaxis indication for oral TPOXX.
Also Read: Mpox Variant Sparks Global Concern As Europe, China Ramp Up Screening.
Inclusive of this award, SIGA currently has approximately $154 million of outstanding oral and IV TPOXX orders, more than 85% of which were generated within the past three months.
Edison report adds that SIGA continues to advance its growth strategy, with recent contract wins from BARDA and the Department of Defense significantly boosting its order book.
The company is set to deliver IV TPOXX under orders from July 2023 ($25 million), and August 2022 ($8.4 million, of which $17.8 million from a $26 million order was already delivered in the first half of 2024).
These are part of approximately $155 million in outstanding TPOXX (oral and IV) orders.
SIGA anticipates delivering the remaining August 2022 IV TPOXX order and 80% of the BARDA oral TPOXX order in the second half of 2024.
While delivery timeline details are yet to be disclosed, Edison Group’s report notes that new DoD order to start at least being partially serviced in fiscal year 2025.
Recently, the National Institutes of Health’s National Institute of Allergy and Infectious Diseases (NIAID) announced topline results from a preliminary analysis of the PALM 007 trial of tecovirimat for mpox.
NIAID reported that the study did not meet its primary endpoint of a statistically significant improvement in time to lesion resolution within 28 days post-randomization for patients in the Democratic Republic of the Congo with mpox who were administered SIGA’s tecovirimat versus placebo, weighing on the share price.
Edison analysts expect an improvement in investor sentiment with the recent DoD contract win.
“We maintain that mpox continues to be an opportunity for SIGA on the heels of the WHO declaration of a global health emergency,” the analysts added.
Price Action: SIGA stock is up 4.07% at $9.72 at the last check on Friday.
Read Next:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
By Connor Hart
Siga Technologies was awarded a $9 million contract by the U.S. Department of Defense for its flagship medicine used to treat smallpox.
The New York pharmaceutical company said Wednesday that the contract consists mostly of oral TPOXX, with a small amount of intravenous TPOXX. The contract marks the company's third procurement in the past three years.
Including this contract, Siga currently has approximately $154 million of outstanding oral and IV TPOXX orders, of which more than 85% were generated within the past three months.
TPOXX is an antiviral medicine approved in the U.S. and Canada to treat smallpox. The medicine is authorized in Europe and the U.K. for the treatment of smallpox, monkeypox, cowpox and vaccinia complications.
Write to Connor Hart at connor.hart@wsj.com
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