Provention Bio, Inc. shares ended the last trading session 11.5% higher at $10.40. 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 3.1% loss over the past four weeks.
The sudden upward movement of the stock price can be attributed to the investors' anticipation of a sustainable upward trend in the stock prices. In this regard, our "Recent Price Strength' screen makes it easy to shortlist the stocks that have enough fundamental strength to maintain their recent uptrend. PRVB is one of the several suitable candidates that passed through the screen.
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 +19.5%. Revenues are expected to be $7.48 million, up 938.5% 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 Provention Bio, 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 PRVB 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 >>>>
Provention Bio, Inc. is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Reata Pharmaceuticals, Inc. , finished the last trading session 3.8% lower at $43.63. RETA has returned 20.2% over the past month.
For Reata Pharmaceuticals, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.12. This represents a change of +9.8% from what the company reported a year ago. Reata Pharmaceuticals, Inc. currently has a Zacks Rank of #3 (Hold).
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Provention Bio, Inc. (PRVB) Surges 11.5%: Is This an Indication of Further Gains?
Provention Bio, Inc. shares ended the last trading session 11.5% higher at $10.40. 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 3.1% loss over the past four weeks.
The sudden upward movement of the stock price can be attributed to the investors' anticipation of a sustainable upward trend in the stock prices. In this regard, our "Recent Price Strength' screen makes it easy to shortlist the stocks that have enough fundamental strength to maintain their recent uptrend. PRVB is one of the several suitable candidates that passed through the screen.
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 +19.5%. Revenues are expected to be $7.48 million, up 938.5% 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 Provention Bio, 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 PRVB 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 >>>>
Provention Bio, Inc. is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Reata Pharmaceuticals, Inc. , finished the last trading session 3.8% lower at $43.63. RETA has returned 20.2% over the past month.
For Reata Pharmaceuticals, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.12. This represents a change of +9.8% from what the company reported a year ago. Reata Pharmaceuticals, Inc. currently has a Zacks Rank of #3 (Hold).