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Personalis (PSNL) Soars 7.3%: Is Further Upside Left in the Stock?
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Personalis (PSNL - Free Report) shares rallied 7.3% in the last trading session to close at $6.45. 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 21.4% gain over the past four weeks.
The sudden uptrend in the stock price can be attributed to the positive investor mindset regarding the continued growth in revenues from the sale of Personalis’ pharma tests and services, signifying increasing adoption of its technology.
This provider of contract research and genomic information is expected to post quarterly loss of $0.25 per share in its upcoming report, which represents a year-over-year change of -4.2%. Revenues are expected to be $20.2 million, down 10.5% 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 Personalis, the consensus EPS estimate for the quarter has been revised 2% 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 PSNL going forward to see if this recent jump can turn into more strength down the road.
Personalis is part of the Zacks Medical - Generic Drugs industry. Doctor Reddy's (RDY - Free Report) , another stock in the same industry, closed the last trading session 0.5% lower at $15.72. RDY has returned 9.4% in the past month.
Doctor Reddy's' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.19. Compared to the company's year-ago EPS, this represents a change of -5%. Doctor Reddy's currently boasts a Zacks Rank of #3 (Hold).
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Personalis (PSNL) Soars 7.3%: Is Further Upside Left in the Stock?
Personalis (PSNL - Free Report) shares rallied 7.3% in the last trading session to close at $6.45. 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 21.4% gain over the past four weeks.
The sudden uptrend in the stock price can be attributed to the positive investor mindset regarding the continued growth in revenues from the sale of Personalis’ pharma tests and services, signifying increasing adoption of its technology.
This provider of contract research and genomic information is expected to post quarterly loss of $0.25 per share in its upcoming report, which represents a year-over-year change of -4.2%. Revenues are expected to be $20.2 million, down 10.5% 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 Personalis, the consensus EPS estimate for the quarter has been revised 2% 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 PSNL 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 >>>>
Personalis is part of the Zacks Medical - Generic Drugs industry. Doctor Reddy's (RDY - Free Report) , another stock in the same industry, closed the last trading session 0.5% lower at $15.72. RDY has returned 9.4% in the past month.
Doctor Reddy's' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.19. Compared to the company's year-ago EPS, this represents a change of -5%. Doctor Reddy's currently boasts a Zacks Rank of #3 (Hold).