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Vanda (VNDA) Soars 29.2%: Is Further Upside Left in the Stock?
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Vanda Pharmaceuticals (VNDA - Free Report) shares ended the last trading session 29.2% higher at $5.05. 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 5.6% loss over the past four weeks.
Earlier this week, the company announced that the FDA has approved Fanapt (iloperidone) tablets for the acute treatment of manic or mixed episodes associated with bipolar I disorder in adults. This might have been driving the share price rally.
This biopharmaceutical company is expected to post quarterly earnings of $0.05 per share in its upcoming report, which represents a year-over-year change of -16.7%. Revenues are expected to be $48.5 million, down 22.4% 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 Vanda, 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 VNDA going forward to see if this recent jump can turn into more strength down the road.
Vanda is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Nurix Therapeutics, Inc. (NRIX - Free Report) , finished the last trading session 1.8% lower at $14.59. NRIX has returned 11.4% over the past month.
Nurix Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.80. Compared to the company's year-ago EPS, this represents a change of -6.7%. Nurix Therapeutics currently boasts a Zacks Rank of #3 (Hold).
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Vanda (VNDA) Soars 29.2%: Is Further Upside Left in the Stock?
Vanda Pharmaceuticals (VNDA - Free Report) shares ended the last trading session 29.2% higher at $5.05. 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 5.6% loss over the past four weeks.
Earlier this week, the company announced that the FDA has approved Fanapt (iloperidone) tablets for the acute treatment of manic or mixed episodes associated with bipolar I disorder in adults. This might have been driving the share price rally.
This biopharmaceutical company is expected to post quarterly earnings of $0.05 per share in its upcoming report, which represents a year-over-year change of -16.7%. Revenues are expected to be $48.5 million, down 22.4% 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 Vanda, 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 VNDA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Vanda is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Nurix Therapeutics, Inc. (NRIX - Free Report) , finished the last trading session 1.8% lower at $14.59. NRIX has returned 11.4% over the past month.
Nurix Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.80. Compared to the company's year-ago EPS, this represents a change of -6.7%. Nurix Therapeutics currently boasts a Zacks Rank of #3 (Hold).