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Roivant Sciences Ltd. (ROIV) Soars 5.8: Is Further Upside Left in the Stock?
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Roivant Sciences Ltd. (ROIV - Free Report) shares ended the last trading session 5.8% higher at $5.12. 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 45.4% gain over the past four weeks.
Shares of the company were high, driven by optimism around the drug/biotech sector’s growth in the ongoing year.
This company is expected to post quarterly loss of $0.33 per share in its upcoming report, which represents a year-over-year change of -26.9%. Revenues are expected to be $6.9 million, down 50.7% 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 Roivant Sciences Ltd., 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 ROIV going forward to see if this recent jump can turn into more strength down the road.
Roivant Sciences Ltd. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Amryt Pharma PLC Sponsored ADR , closed the last trading session 3.2% lower at $6.68. Over the past month, AMYT has returned -3%.
For Amryt Pharma PLC Sponsored ADR, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.04. This represents a change of +42.9% from what the company reported a year ago. Amryt Pharma PLC Sponsored ADR currently has a Zacks Rank of #3 (Hold).
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Roivant Sciences Ltd. (ROIV) Soars 5.8: Is Further Upside Left in the Stock?
Roivant Sciences Ltd. (ROIV - Free Report) shares ended the last trading session 5.8% higher at $5.12. 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 45.4% gain over the past four weeks.
Shares of the company were high, driven by optimism around the drug/biotech sector’s growth in the ongoing year.
This company is expected to post quarterly loss of $0.33 per share in its upcoming report, which represents a year-over-year change of -26.9%. Revenues are expected to be $6.9 million, down 50.7% 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 Roivant Sciences Ltd., 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 ROIV 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 >>>>
Roivant Sciences Ltd. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Amryt Pharma PLC Sponsored ADR , closed the last trading session 3.2% lower at $6.68. Over the past month, AMYT has returned -3%.
For Amryt Pharma PLC Sponsored ADR, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.04. This represents a change of +42.9% from what the company reported a year ago. Amryt Pharma PLC Sponsored ADR currently has a Zacks Rank of #3 (Hold).