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Xoma (XOMA) Moves 7.7% Higher: Will This Strength Last?
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Xoma (XOMA - Free Report) shares soared 7.7% in the last trading session to close at $17.71. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.5% gain over the past four weeks.
Investors are upbeat about the Xoma’s prospects as it accelerates its differentiated biotech royalty and milestone acquisition strategy. The addition of three new assets to its royalty and milestone portfolio will complement the growing cash flows generated by Vabysmo. In addition, the potential approval of arimoclomol, a first-in-class molecule for Niemann-Pick Disease Type C (NPC) and tovorafenib for relapsed or progressive pediatric low-grade glioma along with the label expansion of Ixinity into the pediatric population with Hemophilia B boosts growth prospects of the company.
This drug developer is expected to post quarterly loss of $0.48 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $1.47 million, up 226.7% 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 Xoma, 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 XOMA going forward to see if this recent jump can turn into more strength down the road.
Xoma belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Travere Therapeutics (TVTX - Free Report) , closed the last trading session 0.7% lower at $13.69. Over the past month, TVTX has returned -2.3%.
For Travere, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.69. This represents a change of +36.7% from what the company reported a year ago. Travere currently has a Zacks Rank of #4 (Sell).
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Xoma (XOMA) Moves 7.7% Higher: Will This Strength Last?
Xoma (XOMA - Free Report) shares soared 7.7% in the last trading session to close at $17.71. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.5% gain over the past four weeks.
Investors are upbeat about the Xoma’s prospects as it accelerates its differentiated biotech royalty and milestone acquisition strategy. The addition of three new assets to its royalty and milestone portfolio will complement the growing cash flows generated by Vabysmo. In addition, the potential approval of arimoclomol, a first-in-class molecule for Niemann-Pick Disease Type C (NPC) and tovorafenib for relapsed or progressive pediatric low-grade glioma along with the label expansion of Ixinity into the pediatric population with Hemophilia B boosts growth prospects of the company.
This drug developer is expected to post quarterly loss of $0.48 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $1.47 million, up 226.7% 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 Xoma, 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 XOMA 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 >>>>
Xoma belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Travere Therapeutics (TVTX - Free Report) , closed the last trading session 0.7% lower at $13.69. Over the past month, TVTX has returned -2.3%.
For Travere, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.69. This represents a change of +36.7% from what the company reported a year ago. Travere currently has a Zacks Rank of #4 (Sell).