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Profound Medical (PROF) Moves 9.4% Higher: Will This Strength Last?
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Profound Medical (PROF - Free Report) shares rallied 9.4% in the last trading session to close at $11.78. 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 13.1% gain over the past four weeks.
The sudden soaring of the stock price is likely due to the positive momentum built around the company's marketed medical devices, ahead of its first-quarter 2023 earnings call. The company markets two customizable, incision-free, therapies for ablation of diseased tissue, Tulsa-Pro and Sonalleve. The Tulso-Pro system is a therapy designed to perform predictable prostate disease ablation using magnetic resonance imaging, while the Sonalleve system is an incision-free alternative to surgical treatment of uterine fibroids in women.
This company is expected to post quarterly loss of $0.32 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $1.85 million, up 36% 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 Profound Medical, 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 PROF going forward to see if this recent jump can turn into more strength down the road.
Profound Medical belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, Merck KGaA (MKGAF - Free Report) , closed the last trading session 2.2% lower at $176. Over the past month, MKGAF has returned -0.7%.
Merck KGaA's consensus EPS estimate for the upcoming report has changed +0.4% over the past month to $2.74. Compared to the company's year-ago EPS, this represents a change of +1.5%. Merck KGaA currently boasts a Zacks Rank of #4 (Sell).
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Profound Medical (PROF) Moves 9.4% Higher: Will This Strength Last?
Profound Medical (PROF - Free Report) shares rallied 9.4% in the last trading session to close at $11.78. 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 13.1% gain over the past four weeks.
The sudden soaring of the stock price is likely due to the positive momentum built around the company's marketed medical devices, ahead of its first-quarter 2023 earnings call. The company markets two customizable, incision-free, therapies for ablation of diseased tissue, Tulsa-Pro and Sonalleve. The Tulso-Pro system is a therapy designed to perform predictable prostate disease ablation using magnetic resonance imaging, while the Sonalleve system is an incision-free alternative to surgical treatment of uterine fibroids in women.
This company is expected to post quarterly loss of $0.32 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $1.85 million, up 36% 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 Profound Medical, 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 PROF 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 >>>>
Profound Medical belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, Merck KGaA (MKGAF - Free Report) , closed the last trading session 2.2% lower at $176. Over the past month, MKGAF has returned -0.7%.
Merck KGaA's consensus EPS estimate for the upcoming report has changed +0.4% over the past month to $2.74. Compared to the company's year-ago EPS, this represents a change of +1.5%. Merck KGaA currently boasts a Zacks Rank of #4 (Sell).