Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of biopharmaceutical company Santarus (NASDAQ: SNTS) shot out of the gate, rising by as much as 11% today, after the company reported better-than-expected third-quarter results and boosted its full-year guidance.

So what: For the quarter, Santarus reported revenue of $54.7 million, 104% higher than the year-ago quarter, and a profit of $0.13, considerably higher than the $0.01 in EPS recorded last year. Both results were well ahead of the $0.10 in EPS and $53 million in revenue that Wall Street analysts had been projecting. Furthermore, Santarus upped its full-year revenue guidance to $210 million from a previous forecast of $200 million, and net income to a range of $12 million-$14 million from a previous range of $8 million-$11 million. Fueling these results was prescription growth increased of 49% for Cycloset and 28% for Glumetza, as well as positive late-stage results for Ruconest, a recombinant human C1 inhibitor.

Now what: Santarus shares may already have exploded higher this year, but following these results and considering the positive late-stage trial results for Ruconest, I see no reason why Santarus couldn't move even higher. Santarus is valued at just 12 times forward earnings and, while growth rates are unlikely to remain at triple-digits for long, should be able to maintain a healthy double-digit growth rate for years to come.

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