Organogenesis (ORGO) Stock Jumps 7.4%: Will It Continue to Soar?
Organogenesis (ORGO) shares rallied 7.4% in the last trading session to close at $8.03. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 11.2% loss over the past four weeks.
Shares of the company were high as optimism builds around growth for the drug/biotech sector in 2022.
This regenerative medicine company is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of -46.7%. Revenues are expected to be $124.35 million, up 16.4% 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 Organogenesis, 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 ORGO 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 >>>>
Organogenesis is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, Jounce Therapeutics, Inc. (JNCE), finished the last trading session 1.9% higher at $8.04. JNCE has returned 25.6% over the past month.
Jounce Therapeutics, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.23. Compared to the company's year-ago EPS, this represents a change of -126.7%. Jounce Therapeutics, Inc. currently boasts a Zacks Rank of #3 (Hold).
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