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Strength Seen in Revolution Medicines, Inc. (RVMD): Can Its 15.9% Jump Turn into More Strength?
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Revolution Medicines, Inc. (RVMD - Free Report) shares rallied 15.9% in the last trading session to close at $26.90. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.3% loss over the past four weeks.
Shares of the company were high as optimism builds around growth for the drug/biotech sector in 2023.
This company is expected to post quarterly loss of $0.84 per share in its upcoming report, which represents a year-over-year change of -18.3%. Revenues are expected to be $6.75 million, down 28.6% 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 Revolution Medicines, Inc., 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 RVMD going forward to see if this recent jump can turn into more strength down the road.
Revolution Medicines, Inc. belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, Sage Therapeutics, Inc. (SAGE - Free Report) , closed the last trading session 0.5% higher at $40.96. Over the past month, SAGE has returned -2.5%.
Sage Therapeutics, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.37. Compared to the company's year-ago EPS, this represents a change of -11.8%. Sage Therapeutics, Inc. currently boasts a Zacks Rank of #4 (Sell).
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Strength Seen in Revolution Medicines, Inc. (RVMD): Can Its 15.9% Jump Turn into More Strength?
Revolution Medicines, Inc. (RVMD - Free Report) shares rallied 15.9% in the last trading session to close at $26.90. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.3% loss over the past four weeks.
Shares of the company were high as optimism builds around growth for the drug/biotech sector in 2023.
This company is expected to post quarterly loss of $0.84 per share in its upcoming report, which represents a year-over-year change of -18.3%. Revenues are expected to be $6.75 million, down 28.6% 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 Revolution Medicines, Inc., 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 RVMD 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 >>>>
Revolution Medicines, Inc. belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, Sage Therapeutics, Inc. (SAGE - Free Report) , closed the last trading session 0.5% higher at $40.96. Over the past month, SAGE has returned -2.5%.
Sage Therapeutics, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.37. Compared to the company's year-ago EPS, this represents a change of -11.8%. Sage Therapeutics, Inc. currently boasts a Zacks Rank of #4 (Sell).