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Albireo Pharma (ALBO) Stock Jumps 11%: Will It Continue to Soar?
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Albireo Pharma shares soared 11% in the last trading session to close at $19.27. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.9% loss over the past four weeks.
Shares surged after Albireo announced its royalty monetization agreement with Sagard Healthcare Partners for an upfront payment of $115 million. Pursuant to the deal, Sagard will receive a mid-digit average royalty on Albireo’s FDA-approved drug, Bylvay’s worldwide net sales. However, Sagard will have no right to the intellectual property of the drug. The deal also provides Albireo the option to buyout Sagard’s investment,
This company is expected to post quarterly loss of $1.90 per share in its upcoming report, which represents a year-over-year change of -50.8%. Revenues are expected to be $8.9 million, up 143.2% 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 Albireo Pharma, 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 ALBO going forward to see if this recent jump can turn into more strength down the road.
Albireo Pharma belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Harmony Biosciences Holdings, Inc. (HRMY - Free Report) , closed the last trading session 0.2% higher at $42.87. Over the past month, HRMY has returned -8.8%.
Harmony Biosciences Holdings, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.20. Compared to the company's year-ago EPS, this represents a change of -60.8%. Harmony Biosciences Holdings, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Albireo Pharma (ALBO) Stock Jumps 11%: Will It Continue to Soar?
Albireo Pharma shares soared 11% in the last trading session to close at $19.27. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.9% loss over the past four weeks.
Shares surged after Albireo announced its royalty monetization agreement with Sagard Healthcare Partners for an upfront payment of $115 million. Pursuant to the deal, Sagard will receive a mid-digit average royalty on Albireo’s FDA-approved drug, Bylvay’s worldwide net sales. However, Sagard will have no right to the intellectual property of the drug. The deal also provides Albireo the option to buyout Sagard’s investment,
This company is expected to post quarterly loss of $1.90 per share in its upcoming report, which represents a year-over-year change of -50.8%. Revenues are expected to be $8.9 million, up 143.2% 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 Albireo Pharma, 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 ALBO 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 >>>>
Albireo Pharma belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Harmony Biosciences Holdings, Inc. (HRMY - Free Report) , closed the last trading session 0.2% higher at $42.87. Over the past month, HRMY has returned -8.8%.
Harmony Biosciences Holdings, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.20. Compared to the company's year-ago EPS, this represents a change of -60.8%. Harmony Biosciences Holdings, Inc. currently boasts a Zacks Rank of #3 (Hold).