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Zai Lab Limited (ZLAB) Stock Jumps 6.8%: Will It Continue to Soar?
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Zai Lab Limited Unsponsored ADR (ZLAB - Free Report) shares rallied 6.8% in the last trading session to close at $37. 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 3.8% loss over the past four weeks.
The sudden price rise can be attributed to growing investor optimism related to increased sales of the company’s portfolio of products that are marketed targeting oncology, immunology, neuroscience and infectious disease.
This company is expected to post quarterly loss of $0.37 per share in its upcoming report, which represents a year-over-year change of +54.9%. Revenues are expected to be $127.7 million, up 27.1% 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 Zai Lab Limited, the consensus EPS estimate for the quarter has been revised 19.7% 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 ZLAB going forward to see if this recent jump can turn into more strength down the road.
Zai Lab Limited belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Vertex Pharmaceuticals (VRTX - Free Report) , closed the last trading session 2.5% higher at $470.13. Over the past month, VRTX has returned 3.4%.
For Vertex, the consensus EPS estimate for the upcoming report has changed +0.3% over the past month to $4.24. This represents a change of +133.1% from what the company reported a year ago. Vertex currently has a Zacks Rank of #3 (Hold).
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Zai Lab Limited (ZLAB) Stock Jumps 6.8%: Will It Continue to Soar?
Zai Lab Limited Unsponsored ADR (ZLAB - Free Report) shares rallied 6.8% in the last trading session to close at $37. 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 3.8% loss over the past four weeks.
The sudden price rise can be attributed to growing investor optimism related to increased sales of the company’s portfolio of products that are marketed targeting oncology, immunology, neuroscience and infectious disease.
This company is expected to post quarterly loss of $0.37 per share in its upcoming report, which represents a year-over-year change of +54.9%. Revenues are expected to be $127.7 million, up 27.1% 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 Zai Lab Limited, the consensus EPS estimate for the quarter has been revised 19.7% 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 ZLAB 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 >>>>
Zai Lab Limited belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Vertex Pharmaceuticals (VRTX - Free Report) , closed the last trading session 2.5% higher at $470.13. Over the past month, VRTX has returned 3.4%.
For Vertex, the consensus EPS estimate for the upcoming report has changed +0.3% over the past month to $4.24. This represents a change of +133.1% from what the company reported a year ago. Vertex currently has a Zacks Rank of #3 (Hold).