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Profound Medical (PROF) Soars 9.4%: Is Further Upside Left in the Stock?
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Profound Medical (PROF - Free Report) shares ended the last trading session 9.4% higher at $9.06. 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 5.5% gain over the past four weeks.
The sudden surge in share price can be attributed to positive investor expectation from the company's lead marketed product Tulsa-Pro system which is approved for the ablation of prostate tissue. Earlier this month, the company reported preliminary fourth quarter total revenues to be in the approximate range of $1.9 million to $2.0 million, with the full amount coming from recurring revenue, which consists of the sale of Tulsa-Pro consumables, lease of medical devices, procedures and services associated with extended warranties. The preliminary total revenue figures represents a recurring revenue growth of between 51% and 59% year-over-year.
This company is expected to post quarterly loss of $0.25 per share in its upcoming report, which represents a year-over-year change of +45.7%. Revenues are expected to be $1.9 million, up 50.8% 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 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 is part of the Zacks Medical - Drugs industry. Lyell Immunopharma (LYEL - Free Report) , another stock in the same industry, closed the last trading session 0.5% lower at $2.08. LYEL has returned -1% in the past month.
For Lyell Immunopharma, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.21. This represents a change of -600% from what the company reported a year ago. Lyell Immunopharma currently has a Zacks Rank of #2 (Buy).
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Profound Medical (PROF) Soars 9.4%: Is Further Upside Left in the Stock?
Profound Medical (PROF - Free Report) shares ended the last trading session 9.4% higher at $9.06. 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 5.5% gain over the past four weeks.
The sudden surge in share price can be attributed to positive investor expectation from the company's lead marketed product Tulsa-Pro system which is approved for the ablation of prostate tissue. Earlier this month, the company reported preliminary fourth quarter total revenues to be in the approximate range of $1.9 million to $2.0 million, with the full amount coming from recurring revenue, which consists of the sale of Tulsa-Pro consumables, lease of medical devices, procedures and services associated with extended warranties. The preliminary total revenue figures represents a recurring revenue growth of between 51% and 59% year-over-year.
This company is expected to post quarterly loss of $0.25 per share in its upcoming report, which represents a year-over-year change of +45.7%. Revenues are expected to be $1.9 million, up 50.8% 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 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 #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Profound Medical is part of the Zacks Medical - Drugs industry. Lyell Immunopharma (LYEL - Free Report) , another stock in the same industry, closed the last trading session 0.5% lower at $2.08. LYEL has returned -1% in the past month.
For Lyell Immunopharma, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.21. This represents a change of -600% from what the company reported a year ago. Lyell Immunopharma currently has a Zacks Rank of #2 (Buy).