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Immatics (IMTX) Surges 7.5%: Is This an Indication of Further Gains?
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Immatics (IMTX - Free Report) shares rallied 7.5% in the last trading session to close at $12.72. 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 22.2% gain over the past four weeks.
The rise in stock price is attributable to positive investor sentiments on the company's pipeline development which is focused on developing right T-cells receptors targeting different cancer indications.
This company is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of -47.8%. Revenues are expected to be $18.97 million, up 4.3% 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 Immatics, 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 IMTX going forward to see if this recent jump can turn into more strength down the road.
Immatics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Intercept Pharmaceuticals , finished the last trading session 0.2% lower at $11.80. ICPT has returned -12.8% over the past month.
For Intercept, the consensus EPS estimate for the upcoming report has changed -9% over the past month to -$0.58. This represents a change of +14.7% from what the company reported a year ago. Intercept currently has a Zacks Rank of #3 (Hold).
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Immatics (IMTX) Surges 7.5%: Is This an Indication of Further Gains?
Immatics (IMTX - Free Report) shares rallied 7.5% in the last trading session to close at $12.72. 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 22.2% gain over the past four weeks.
The rise in stock price is attributable to positive investor sentiments on the company's pipeline development which is focused on developing right T-cells receptors targeting different cancer indications.
This company is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of -47.8%. Revenues are expected to be $18.97 million, up 4.3% 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 Immatics, 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 IMTX 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 >>>>
Immatics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Intercept Pharmaceuticals , finished the last trading session 0.2% lower at $11.80. ICPT has returned -12.8% over the past month.
For Intercept, the consensus EPS estimate for the upcoming report has changed -9% over the past month to -$0.58. This represents a change of +14.7% from what the company reported a year ago. Intercept currently has a Zacks Rank of #3 (Hold).