Cardiff Oncology (CRDF) Moves 20.5% Higher: Will This Strength Last?
Cardiff Oncology (CRDF) shares soared 20.5% in the last trading session to close at $5.40. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 169.9% gain over the past four weeks.
The sudden rise in the stock price can be attributed to the positive investor mindset regarding the company's pipeline, which comprises only its lead candidate, onvansertib. Cardiff Oncology oncology is currently developing onvansertib in separate early to mid-stage studies to treat different cancer indications.
This molecular diagnostic company is expected to post quarterly loss of $0.25 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $0.11 million, up 37.5% 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 Cardiff Oncology, the consensus EPS estimate for the quarter has been revised 14.7% 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 CRDF going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Cardiff Oncology belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Regeneron (REGN), closed the last trading session 0.5% lower at $965.47. Over the past month, REGN has returned 3.2%.
Regeneron's consensus EPS estimate for the upcoming report has changed -1.9% over the past month to $9.73. Compared to the company's year-ago EPS, this represents a change of -3.6%. Regeneron currently boasts a Zacks Rank of #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cardiff Oncology, Inc. (CRDF) : Free Stock Analysis Report
Regeneron Pharmaceuticals, Inc. (REGN) : Free Stock Analysis Report
