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Inovio (INO) Moves 17.4% Higher: Will This Strength Last?
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Inovio Pharmaceuticals (INO - Free Report) shares ended the last trading session 17.4% higher at $6.74. 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 46% loss over the past four weeks.
Last month, the company announced that it plans to submit a biological license application for INO-3107 under the FDA’s accelerated approval program for treating recurrent respiratory papillomatosis in the second half of 2024. This might have driven the share price rally.
This drugmaker is expected to post quarterly loss of $1.37 per share in its upcoming report, which represents a year-over-year change of +45.6%. Revenues are expected to be $0.26 million, up 100% 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 Inovio, 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 INO going forward to see if this recent jump can turn into more strength down the road.
Inovio belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Janux Therapeutics, Inc. (JANX - Free Report) , closed the last trading session 2.5% higher at $9.43. Over the past month, JANX has returned -12%.
Janux Therapeutics, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.37. Compared to the company's year-ago EPS, this represents a change of +5.1%. Janux Therapeutics, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Inovio (INO) Moves 17.4% Higher: Will This Strength Last?
Inovio Pharmaceuticals (INO - Free Report) shares ended the last trading session 17.4% higher at $6.74. 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 46% loss over the past four weeks.
Last month, the company announced that it plans to submit a biological license application for INO-3107 under the FDA’s accelerated approval program for treating recurrent respiratory papillomatosis in the second half of 2024. This might have driven the share price rally.
This drugmaker is expected to post quarterly loss of $1.37 per share in its upcoming report, which represents a year-over-year change of +45.6%. Revenues are expected to be $0.26 million, up 100% 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 Inovio, 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 INO 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 >>>>
Inovio belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Janux Therapeutics, Inc. (JANX - Free Report) , closed the last trading session 2.5% higher at $9.43. Over the past month, JANX has returned -12%.
Janux Therapeutics, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.37. Compared to the company's year-ago EPS, this represents a change of +5.1%. Janux Therapeutics, Inc. currently boasts a Zacks Rank of #3 (Hold).