iTeos Therapeutics, Inc. (ITOS) Stock Jumps 5.4%: Will It Continue to Soar?
iTeos Therapeutics, Inc. ITOS shares ended the last trading session 5.4% higher at $9.04. 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 30.1% loss over the past four weeks.
The upside is likely attributable to recovery of share prices which had been falling in last week after S&P Global announced that NCR Atleos will replace the company in the S&P SmallCap 600 index. Per S&P Global, Emergent no longer represents the small-cap market space, hence the substitution with NCR Atleos, which satisfies the index requirements. This change will be effective from Oct 18.
This company is expected to post quarterly loss of $1.20 per share in its upcoming report, which represents a year-over-year change of -4100%. Revenues are expected to be $100 million, up 413.1% 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 iTeos Therapeutics, Inc., the consensus EPS estimate for the quarter has been revised 46.1% 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 ITOS 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 >>>>
iTeos Therapeutics, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Pharming Group N.V. Sponsored ADR PHAR, another stock in the same industry, closed the last trading session 1.3% higher at $12. PHAR has returned -8.9% in the past month.
For Pharming Group N.V. Sponsored ADR , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.13. This represents no change from what the company reported a year ago. Pharming Group N.V. Sponsored ADR currently has a Zacks Rank of #3 (Hold).
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iTeos Therapeutics, Inc. (ITOS) : Free Stock Analysis Report
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