Taiwan Liposome Company, Ltd. Unsponsored ADR shares soared 30.3% in the last trading session to close at $6.37. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 14.7% loss over the past four weeks.

The company's share price was driven by the approval for its Amphotericin B Liposome injection In India for treating mucormycosis or black fungus. The fungal infection is occuring as a post-COVID complication in 30% of COVID patients who are diabetic or otherwise immunocompromised, indicating a strong potential for Taiwan Liposome's injection in the country.

Price and Consensus

This company is expected to post quarterly loss of $0.25 per share in its upcoming report, which represents a year-over-year change of -13.6%. Revenues are expected to be $0.6 million, up 50% 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 Taiwan Liposome Company, Ltd. Unsponsored ADR, 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 TLC going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>