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Strength Seen in Champions Oncology, Inc. (CSBR): Can Its 15.3% Jump Turn into More Strength?

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Champions Oncology, Inc. (CSBR - Free Report) shares rallied 15.3% in the last trading session to close at $13.71. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.1% gain over the past four weeks.

Last week, the company reported record quarterly revenues of $10.8 million in the third fiscal quarter. This might have driven the rally. The company’s partnership with Code Ocean to expand the functionality of its SaaS program, Lumin Bioinformatics is positive as well.

Price and Consensus

Price Consensus Chart for Champions Oncology, Inc.

This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of -66.7%. Revenues are expected to be $10.29 million, up 14.2% 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 Champions Oncology, Inc., 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 CSBR 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 >>>>

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