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Heska (HSKA) Moves 9.0% Higher: Will This Strength Last?

Heska HSKA shares ended the last trading session 9% higher at $73.37. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.7% gain over the past four weeks.

This rise in price is attributable to positive investor sentiment upon purchase of shares by company insiders. Per an SEC filing, Heska’s CEO recently purchased more than 11,000 shares of the company.

This maker of veterinary products is expected to post quarterly earnings of $0.39 per share in its upcoming report, which represents a year-over-year change of +11.4%. Revenues are expected to be $64.1 million, down 5.8% 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 Heska, 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 HSKA 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 >>>>

Heska is part of the Zacks Medical - Biomedical and Genetics industry. Immunocore Holdings PLC Sponsored ADR IMCR, another stock in the same industry, closed the last trading session 6.1% higher at $54.54. IMCR has returned -12.5% in the past month.

For Immunocore Holdings PLC Sponsored ADR , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.08. This represents a change of +93.4% from what the company reported a year ago. Immunocore Holdings PLC Sponsored ADR currently has a Zacks Rank of #3 (Hold).

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