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Strength Seen in Lifecore Biomedical (LFCR): Can Its 16.0% Jump Turn into More Strength?
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Lifecore Biomedical (LFCR - Free Report) shares soared 16% in the last trading session to close at $7.53. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.7% loss over the past four weeks.
The stock rallied as optimism about the drug/biotech sector’s growth in 2024 rose.
This agricultural and food packaging products company is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of +129.2%. Revenues are expected to be $29.28 million, down 24.5% 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 Lifecore Biomedical, 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 LFCR going forward to see if this recent jump can turn into more strength down the road.
Lifecore Biomedical belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, MeiraGTx Holdings PLC (MGTX - Free Report) , closed the last trading session 2.4% higher at $6.05. Over the past month, MGTX has returned -6.2%.
MeiraGTx Holdings PLC's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.46. Compared to the company's year-ago EPS, this represents a change of +20.7%. MeiraGTx Holdings PLC currently boasts a Zacks Rank of #2 (Buy).
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Strength Seen in Lifecore Biomedical (LFCR): Can Its 16.0% Jump Turn into More Strength?
Lifecore Biomedical (LFCR - Free Report) shares soared 16% in the last trading session to close at $7.53. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.7% loss over the past four weeks.
The stock rallied as optimism about the drug/biotech sector’s growth in 2024 rose.
This agricultural and food packaging products company is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of +129.2%. Revenues are expected to be $29.28 million, down 24.5% 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 Lifecore Biomedical, 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 LFCR 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 >>>>
Lifecore Biomedical belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, MeiraGTx Holdings PLC (MGTX - Free Report) , closed the last trading session 2.4% higher at $6.05. Over the past month, MGTX has returned -6.2%.
MeiraGTx Holdings PLC's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.46. Compared to the company's year-ago EPS, this represents a change of +20.7%. MeiraGTx Holdings PLC currently boasts a Zacks Rank of #2 (Buy).