Investors are always looking for stocks that are poised to beat at earnings season and Gemini Therapeutics, Inc. may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Gemini Therapeutics is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for GMTX in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at a loss of 39 cents per share for GMTX, compared to a broader Zacks Consensus Estimate of a loss of 47 cents per share. This suggests that analysts have very recently bumped up their estimates for GMTX, giving the stock a Zacks Earnings ESP of +17.61% heading into earnings season.
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that GMTX has a Zacks Rank #2 (Buy) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Gemini Therapeutics, and that a beat might be in the cards for the upcoming report.
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Investors are always looking for stocks that are poised to beat at earnings season and Gemini Therapeutics, Inc. may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Gemini Therapeutics is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for GMTX in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at a loss of 39 cents per share for GMTX, compared to a broader Zacks Consensus Estimate of a loss of 47 cents per share. This suggests that analysts have very recently bumped up their estimates for GMTX, giving the stock a Zacks Earnings ESP of +17.61% heading into earnings season.
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that GMTX has a Zacks Rank #2 (Buy) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Gemini Therapeutics, and that a beat might be in the cards for the upcoming report.
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.
See Stocks Now >>