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Profound Medical (PROF) Surges 13.0%: Is This an Indication of Further Gains?
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Profound Medical (PROF - Free Report) shares rallied 13% in the last trading session to close at $5.82. 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 28% loss over the past four weeks.
Earlier this month, the company reported results from the CAPTAIN study comparing its MRI-guided TULSA procedure with robotic radical prostatectomy (RP) in men with localized prostate cancer. The data showed that Profound’s TULSA delivered a meaningful and statistically significant improvement over robotic RP in preserving erectile function, along with urinary continence at six months. This might have driven the recent share price rally.
This company is expected to post quarterly loss of $0.24 per share in its upcoming report, which represents a year-over-year change of +33.3%. Revenues are expected to be $5.09 million, up 94.4% 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 Profound Medical, the consensus EPS estimate for the quarter has been revised 8.2% 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 PROF going forward to see if this recent jump can turn into more strength down the road.
Profound Medical belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, Aclaris Therapeutics (ACRS - Free Report) , closed the last trading session 8.8% higher at $3.59. Over the past month, ACRS has returned -1.8%.
For Aclaris, the consensus EPS estimate for the upcoming report has changed -15.7% over the past month to -$0.16. This represents a change of -33.3% from what the company reported a year ago. Aclaris currently has a Zacks Rank of #3 (Hold).
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Profound Medical (PROF) Surges 13.0%: Is This an Indication of Further Gains?
Profound Medical (PROF - Free Report) shares rallied 13% in the last trading session to close at $5.82. 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 28% loss over the past four weeks.
Earlier this month, the company reported results from the CAPTAIN study comparing its MRI-guided TULSA procedure with robotic radical prostatectomy (RP) in men with localized prostate cancer. The data showed that Profound’s TULSA delivered a meaningful and statistically significant improvement over robotic RP in preserving erectile function, along with urinary continence at six months. This might have driven the recent share price rally.
This company is expected to post quarterly loss of $0.24 per share in its upcoming report, which represents a year-over-year change of +33.3%. Revenues are expected to be $5.09 million, up 94.4% 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 Profound Medical, the consensus EPS estimate for the quarter has been revised 8.2% 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 PROF 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 >>>>
Profound Medical belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, Aclaris Therapeutics (ACRS - Free Report) , closed the last trading session 8.8% higher at $3.59. Over the past month, ACRS has returned -1.8%.
For Aclaris, the consensus EPS estimate for the upcoming report has changed -15.7% over the past month to -$0.16. This represents a change of -33.3% from what the company reported a year ago. Aclaris currently has a Zacks Rank of #3 (Hold).