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Strength Seen in H Lundbeck AS (HLUYY): Can Its 11.2% Jump Turn into More Strength?
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H Lundbeck AS shares ended the last trading session 11.2% higher at $19.10. 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 18.2% loss over the past four weeks.
The rise in share prices is attributable to positive investor expectations for H Lundbeck’s portfolio of medicines targeting neurological and psychiatric disorders. The company is also developing several pipeline candidates targeting these indications. Last month, HLUYY reported positive data from a late-stage study which showed that treatment with its depression drug Rexulti (brexpiprazole) also reduced agitation in patients with Alzheimer’s dementia. Based on this data, HLUYY intends to file for label expansion for Rexulti in this indication later this year.
This company is expected to post quarterly earnings of $0.55 per share in its upcoming report, which represents a year-over-year change of +10%. Revenues are expected to be $607.29 million, down 5.3% 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 H Lundbeck AS, 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 HLUYY going forward to see if this recent jump can turn into more strength down the road.
H Lundbeck AS is part of the Zacks Large Cap Pharmaceuticals industry. Eli Lilly (LLY - Free Report) , another stock in the same industry, closed the last trading session 2.3% lower at $323.59. LLY has returned 13.7% in the past month.
For Lilly, the consensus EPS estimate for the upcoming report has changed +0.7% over the past month to $1.86. This represents a change of -0.5% from what the company reported a year ago. Lilly currently has a Zacks Rank of #3 (Hold).
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Strength Seen in H Lundbeck AS (HLUYY): Can Its 11.2% Jump Turn into More Strength?
H Lundbeck AS shares ended the last trading session 11.2% higher at $19.10. 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 18.2% loss over the past four weeks.
The rise in share prices is attributable to positive investor expectations for H Lundbeck’s portfolio of medicines targeting neurological and psychiatric disorders. The company is also developing several pipeline candidates targeting these indications. Last month, HLUYY reported positive data from a late-stage study which showed that treatment with its depression drug Rexulti (brexpiprazole) also reduced agitation in patients with Alzheimer’s dementia. Based on this data, HLUYY intends to file for label expansion for Rexulti in this indication later this year.
This company is expected to post quarterly earnings of $0.55 per share in its upcoming report, which represents a year-over-year change of +10%. Revenues are expected to be $607.29 million, down 5.3% 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 H Lundbeck AS, 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 HLUYY 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 >>>>
H Lundbeck AS is part of the Zacks Large Cap Pharmaceuticals industry. Eli Lilly (LLY - Free Report) , another stock in the same industry, closed the last trading session 2.3% lower at $323.59. LLY has returned 13.7% in the past month.
For Lilly, the consensus EPS estimate for the upcoming report has changed +0.7% over the past month to $1.86. This represents a change of -0.5% from what the company reported a year ago. Lilly currently has a Zacks Rank of #3 (Hold).