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Regeneron (REGN) Surges 3.0%: Is This an Indication of Further Gains?
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Regeneron (REGN - Free Report) shares rallied 3% in the last trading session to close at $905. 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 6.7% gain over the past four weeks.
The going has been good for Regeneron post the FDA approval of higher dose of its lead opthalmology drug Eylea. Regeneron recently won a lawsuit against Viatris for a proposed biosimilar of Eylea, which in turn wards off any biosimilar competition in the near future for the drug. Shares have maintained the upward trajectory thereafter.
This biopharmaceutical company is expected to post quarterly earnings of $10.80 per share in its upcoming report, which represents a year-over-year change of -14%. Revenues are expected to be $3.3 billion, down 3.3% 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 Regeneron, the consensus EPS estimate for the quarter has been revised 9% 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 REGN going forward to see if this recent jump can turn into more strength down the road.
Regeneron is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Vir Biotechnology, Inc. (VIR - Free Report) , finished the last trading session 4.5% higher at $10.51. VIR has returned 5.1% over the past month.
Vir Biotechnology, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.14. Compared to the company's year-ago EPS, this represents a change of -50%. Vir Biotechnology, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Regeneron (REGN) Surges 3.0%: Is This an Indication of Further Gains?
Regeneron (REGN - Free Report) shares rallied 3% in the last trading session to close at $905. 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 6.7% gain over the past four weeks.
The going has been good for Regeneron post the FDA approval of higher dose of its lead opthalmology drug Eylea. Regeneron recently won a lawsuit against Viatris for a proposed biosimilar of Eylea, which in turn wards off any biosimilar competition in the near future for the drug. Shares have maintained the upward trajectory thereafter.
This biopharmaceutical company is expected to post quarterly earnings of $10.80 per share in its upcoming report, which represents a year-over-year change of -14%. Revenues are expected to be $3.3 billion, down 3.3% 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 Regeneron, the consensus EPS estimate for the quarter has been revised 9% 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 REGN 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 >>>>
Regeneron is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Vir Biotechnology, Inc. (VIR - Free Report) , finished the last trading session 4.5% higher at $10.51. VIR has returned 5.1% over the past month.
Vir Biotechnology, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.14. Compared to the company's year-ago EPS, this represents a change of -50%. Vir Biotechnology, Inc. currently boasts a Zacks Rank of #3 (Hold).