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Valneva SE Sponsored ADR (VALN) Stock Jumps 93.1%: Will It Continue to Soar?

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Valneva SE Sponsored ADR (VALN - Free Report) shares ended the last trading session 93.1% higher at $26.48. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 43.2% loss over the past four weeks.

Valneva SE recorded a strong price increase following its entry into an Equity Subscription Agreement with Pfizer Inc., where both companies have updated the terms of their Collaboration and License Agreement for Lyme disease vaccine candidate VLA15. As per Pfizer’s previous announcement in April 2022, it plans to initiate the Phase 3 study of VLA15 in the third quarter of 2022.

This company is expected to post quarterly earnings of $0.51 per share in its upcoming report, which represents a year-over-year change of +134.7%. Revenues are expected to be $170.02 million, up 481.1% 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 Valneva SE Sponsored 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 VALN 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 >>>>

Valneva SE Sponsored ADR is a member of the Zacks Medical - Products industry. One other stock in the same industry, TG Therapeutics (TGTX - Free Report) , finished the last trading session 6.4% higher at $4.30. TGTX has returned -25.7% over the past month.

TG Therapeutics' consensus EPS estimate for the upcoming report has changed -0.8% over the past month to -$0.49. Compared to the company's year-ago EPS, this represents a change of +17%. TG Therapeutics currently boasts a Zacks Rank of #3 (Hold).

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