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Roivant Sciences Ltd. (ROIV) Surges 8.9%: Is This an Indication of Further Gains?
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Roivant Sciences Ltd. (ROIV - Free Report) shares ended the last trading session 8.9% higher at $10.63. 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 0.1% gain over the past four weeks.
The sudden soaring of the stock price can be attributed to the positive momentum built around the company's only marketed product, Vtama (tapinarof). Vtama creme is the first and only FDA-approved steroid-free topical medication in its class for the treatment of plaque psoriasis in adults. Roivant is currently planning to file an application to extend Vtama's indication to include atopic dermatitis, in the first quarter of calender year 2024.
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 +33.3%. Revenues are expected to be $27.57 million, up 538.2% 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 Roivant Sciences Ltd., the consensus EPS estimate for the quarter has been revised 9.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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. is part of the Zacks Medical - Biomedical and Genetics industry. TELA Bio, Inc. (TELA - Free Report) , another stock in the same industry, closed the last trading session 0.4% higher at $10.07. TELA has returned -8.4% in the past month.
TELA Bio, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.58. Compared to the company's year-ago EPS, this represents a change of +27.5%. TELA Bio, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Roivant Sciences Ltd. (ROIV) Surges 8.9%: Is This an Indication of Further Gains?
Roivant Sciences Ltd. (ROIV - Free Report) shares ended the last trading session 8.9% higher at $10.63. 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 0.1% gain over the past four weeks.
The sudden soaring of the stock price can be attributed to the positive momentum built around the company's only marketed product, Vtama (tapinarof). Vtama creme is the first and only FDA-approved steroid-free topical medication in its class for the treatment of plaque psoriasis in adults. Roivant is currently planning to file an application to extend Vtama's indication to include atopic dermatitis, in the first quarter of calender year 2024.
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 +33.3%. Revenues are expected to be $27.57 million, up 538.2% 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 Roivant Sciences Ltd., the consensus EPS estimate for the quarter has been revised 9.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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. is part of the Zacks Medical - Biomedical and Genetics industry. TELA Bio, Inc. (TELA - Free Report) , another stock in the same industry, closed the last trading session 0.4% higher at $10.07. TELA has returned -8.4% in the past month.
TELA Bio, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.58. Compared to the company's year-ago EPS, this represents a change of +27.5%. TELA Bio, Inc. currently boasts a Zacks Rank of #3 (Hold).