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Tango Therapeutics (TNGX) Soars 7.8%: Is Further Upside Left in the Stock?
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Tango Therapeutics, Inc. (TNGX - Free Report) shares ended the last trading session 7.8% higher at $7.35. 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 5.5% loss over the past four weeks.
The growing optimism related to the company’s pipeline candidates, including TNG462 and TNG456, which are being developed as the next generation of precision medicines for the treatment of cancer, might have driven the recent share price rally.
This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +74.1%. Revenues are expected to be $37.19 million, up 220.4% 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 Tango Therapeutics, the consensus EPS estimate for the quarter has been revised 33.7% 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 TNGX going forward to see if this recent jump can turn into more strength down the road.
Tango Therapeutics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Krystal Biotech, Inc. (KRYS - Free Report) , finished the last trading session 0.9% lower at $154.38. KRYS has returned 6.4% over the past month.
Krystal Biotech's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.04. Compared to the company's year-ago EPS, this represents a change of +14.3%. Krystal Biotech currently boasts a Zacks Rank of #4 (Sell).
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Tango Therapeutics (TNGX) Soars 7.8%: Is Further Upside Left in the Stock?
Tango Therapeutics, Inc. (TNGX - Free Report) shares ended the last trading session 7.8% higher at $7.35. 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 5.5% loss over the past four weeks.
The growing optimism related to the company’s pipeline candidates, including TNG462 and TNG456, which are being developed as the next generation of precision medicines for the treatment of cancer, might have driven the recent share price rally.
This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +74.1%. Revenues are expected to be $37.19 million, up 220.4% 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 Tango Therapeutics, the consensus EPS estimate for the quarter has been revised 33.7% 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 TNGX 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 >>>>
Tango Therapeutics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Krystal Biotech, Inc. (KRYS - Free Report) , finished the last trading session 0.9% lower at $154.38. KRYS has returned 6.4% over the past month.
Krystal Biotech's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.04. Compared to the company's year-ago EPS, this represents a change of +14.3%. Krystal Biotech currently boasts a Zacks Rank of #4 (Sell).