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AnaptysBio (ANAB) Surges 14.8%: Is This an Indication of Further Gains?
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AnaptysBio, Inc. (ANAB - Free Report) shares soared 14.8% in the last trading session to close at $58.88. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 21.1% loss over the past four weeks.
The stock rallied after the company announced that the Delaware Chancery Court dismissed Tesaro’s (a subsidiary of GSK) anticipatory breach of contract claim against Anaptys. The ruling supports Anaptys’ position that it never repudiated the Collaboration and Exclusive License Agreement with Tesaro, covering the development and commercialization of Jemperli. Also, the ruling preserves the current contracted royalty rates and rejects Tesaro’s request for any reduction in royalties.
This company is expected to post quarterly loss of $0.77 per share in its upcoming report, which represents a year-over-year change of +39.8%. Revenues are expected to be $27.5 million, down 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 AnaptysBio, the consensus EPS estimate for the quarter has been revised 2.5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ANAB going forward to see if this recent jump can turn into more strength down the road.
AnaptysBio is part of the Zacks Medical - Biomedical and Genetics industry. Precision BioSciences (DTIL - Free Report) , another stock in the same industry, closed the last trading session 3.7% lower at $7.04. DTIL has returned 11.8% in the past month.
For Precision BioSciences, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.27. This represents a change of +87.8% from what the company reported a year ago. Precision BioSciences currently has a Zacks Rank of #3 (Hold).
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AnaptysBio (ANAB) Surges 14.8%: Is This an Indication of Further Gains?
AnaptysBio, Inc. (ANAB - Free Report) shares soared 14.8% in the last trading session to close at $58.88. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 21.1% loss over the past four weeks.
The stock rallied after the company announced that the Delaware Chancery Court dismissed Tesaro’s (a subsidiary of GSK) anticipatory breach of contract claim against Anaptys. The ruling supports Anaptys’ position that it never repudiated the Collaboration and Exclusive License Agreement with Tesaro, covering the development and commercialization of Jemperli. Also, the ruling preserves the current contracted royalty rates and rejects Tesaro’s request for any reduction in royalties.
This company is expected to post quarterly loss of $0.77 per share in its upcoming report, which represents a year-over-year change of +39.8%. Revenues are expected to be $27.5 million, down 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 AnaptysBio, the consensus EPS estimate for the quarter has been revised 2.5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ANAB 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 >>>>
AnaptysBio is part of the Zacks Medical - Biomedical and Genetics industry. Precision BioSciences (DTIL - Free Report) , another stock in the same industry, closed the last trading session 3.7% lower at $7.04. DTIL has returned 11.8% in the past month.
For Precision BioSciences, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.27. This represents a change of +87.8% from what the company reported a year ago. Precision BioSciences currently has a Zacks Rank of #3 (Hold).