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Strength Seen in Xencor (XNCR): Can Its 7.3% Jump Turn into More Strength?
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Xencor (XNCR - Free Report) shares soared 7.3% in the last trading session to close at $9.25. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 13.6% gain over the past four weeks.
The sudden price rise can be attributed to growing investor optimism related to the company’s efforts in developing engineered antibodies for the treatment of patients with cancer, as well as autoimmune and inflammatory diseases.
This biotech developing antibodies for severe autoimmune/allergic diseases and cancer is expected to post quarterly loss of $0.72 per share in its upcoming report, which represents a year-over-year change of -1.4%. Revenues are expected to be $25.66 million, up 139.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Xencor, 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 XNCR going forward to see if this recent jump can turn into more strength down the road.
Xencor is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, Aclaris Therapeutics (ACRS - Free Report) , finished the last trading session 1.6% lower at $1.81. ACRS has returned 2.8% over the past month.
For Aclaris, the consensus EPS estimate for the upcoming report has changed +2.5% over the past month to -$0.13. This represents a change of -18.2% from what the company reported a year ago. Aclaris currently has a Zacks Rank of #3 (Hold).
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Strength Seen in Xencor (XNCR): Can Its 7.3% Jump Turn into More Strength?
Xencor (XNCR - Free Report) shares soared 7.3% in the last trading session to close at $9.25. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 13.6% gain over the past four weeks.
The sudden price rise can be attributed to growing investor optimism related to the company’s efforts in developing engineered antibodies for the treatment of patients with cancer, as well as autoimmune and inflammatory diseases.
This biotech developing antibodies for severe autoimmune/allergic diseases and cancer is expected to post quarterly loss of $0.72 per share in its upcoming report, which represents a year-over-year change of -1.4%. Revenues are expected to be $25.66 million, up 139.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Xencor, 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 XNCR 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 >>>>
Xencor is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, Aclaris Therapeutics (ACRS - Free Report) , finished the last trading session 1.6% lower at $1.81. ACRS has returned 2.8% over the past month.
For Aclaris, the consensus EPS estimate for the upcoming report has changed +2.5% over the past month to -$0.13. This represents a change of -18.2% from what the company reported a year ago. Aclaris currently has a Zacks Rank of #3 (Hold).