Exscientia PLC Sponsored ADR (EXAI) Stock Jumps 13.5%: Will It Continue to Soar?
Exscientia PLC Sponsored ADR EXAI shares soared 13.5% in the last trading session to close at $5.29. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.2% loss over the past four weeks.
The surge in the stock price is likely due to positive momentum building around the company's lead pipeline candidate GTAEXS617. The candidate is being evaluated in a phase I/II ELUCIDATE study for the treatment of advanced solid tumours. The study is currently enrolling patients, and is aimed to evaluate the safety, efficacy and pharmacokinetics of GTAEXS617 across multiple ascending doses for six cancer indications.
This company is expected to post quarterly loss of $0.42 per share in its upcoming report, which represents a year-over-year change of -31.3%. Revenues are expected to be $13.48 million, up 92.6% 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 Exscientia PLC Sponsored ADR, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EXAI 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 >>>>
Exscientia PLC Sponsored ADR is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, Collegium Pharmaceutical COLL, finished the last trading session 1.3% lower at $23.43. COLL has returned 1.7% over the past month.
For Collegium Pharmaceutical, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.31. This represents a change of +19.1% from what the company reported a year ago. Collegium Pharmaceutical currently has a Zacks Rank of #3 (Hold).
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