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Day One Biopharmaceuticals (DAWN) Moves 7.0% Higher: Will This Strength Last?
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Day One Biopharmaceuticals, Inc. (DAWN - Free Report) shares rallied 7% in the last trading session to close at $7.95. 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 0.3% gain over the past four weeks.
The price rise can be attributed to growing investor optimism related to the strong uptake of the company’s lead marketed drug, Ojemda, a type II RAF inhibitor, which is approved for treating patients aged six months and older with relapsed or refractory BRAF-altered pediatric low-grade glioma.
This company is expected to post quarterly loss of $0.28 per share in its upcoming report, which represents a year-over-year change of -173.7%. Revenues are expected to be $37.63 million, down 59.9% 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 Day One Biopharmaceuticals, the consensus EPS estimate for the quarter has been revised 2.2% 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 DAWN going forward to see if this recent jump can turn into more strength down the road.
Day One Biopharmaceuticals is part of the Zacks Medical - Biomedical and Genetics industry. Adherex Technologies Inc. (FENC - Free Report) , another stock in the same industry, closed the last trading session 2.2% higher at $9.88. FENC has returned 5.3% in the past month.
Adherex Technologies' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.16. Compared to the company's year-ago EPS, this represents a change of +176.2%. Adherex Technologies currently boasts a Zacks Rank of #4 (Sell).
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Day One Biopharmaceuticals (DAWN) Moves 7.0% Higher: Will This Strength Last?
Day One Biopharmaceuticals, Inc. (DAWN - Free Report) shares rallied 7% in the last trading session to close at $7.95. 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 0.3% gain over the past four weeks.
The price rise can be attributed to growing investor optimism related to the strong uptake of the company’s lead marketed drug, Ojemda, a type II RAF inhibitor, which is approved for treating patients aged six months and older with relapsed or refractory BRAF-altered pediatric low-grade glioma.
This company is expected to post quarterly loss of $0.28 per share in its upcoming report, which represents a year-over-year change of -173.7%. Revenues are expected to be $37.63 million, down 59.9% 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 Day One Biopharmaceuticals, the consensus EPS estimate for the quarter has been revised 2.2% 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 DAWN 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 >>>>
Day One Biopharmaceuticals is part of the Zacks Medical - Biomedical and Genetics industry. Adherex Technologies Inc. (FENC - Free Report) , another stock in the same industry, closed the last trading session 2.2% higher at $9.88. FENC has returned 5.3% in the past month.
Adherex Technologies' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.16. Compared to the company's year-ago EPS, this represents a change of +176.2%. Adherex Technologies currently boasts a Zacks Rank of #4 (Sell).