ProPhase Labs, Inc. (PRPH) Soars 7.5%: Is Further Upside Left in the Stock?
ProPhase Labs, Inc. PRPH shares rallied 7.5% in the last trading session to close at $8.39. 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 9.7% gain over the past four weeks.
The rise in share price is attributable to positive investor expectations for PRPH’s diagnostics and genomics testing services. The company aims to provide these services directly to the consumer and build a genomics data base to be used for further research. ProPhase is currently in strategic discussions to develop the BE-Smart Esophageal Pre-Cancer diagnostic screening test, which will focus on early detection of esophageal cancer and will provide data to help determine treatment options.
This company is expected to post quarterly loss of $0.09 per share in its upcoming report, which represents a year-over-year change of -113.2%. Revenues are expected to be $16.3 million, down 65.7% 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 ProPhase Labs, Inc., the consensus EPS estimate for the quarter has been revised 16.7% 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 PRPH 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 >>>>
ProPhase Labs, Inc. is part of the Zacks Medical - Drugs industry. Foghorn Therapeutics Inc. FHTX, another stock in the same industry, closed the last trading session 1.2% higher at $5.86. FHTX has returned 5.9% in the past month.
Foghorn Therapeutics Inc.'s consensus EPS estimate for the upcoming report has changed -9.1% over the past month to -$0.68. Compared to the company's year-ago EPS, this represents a change of -4.6%. Foghorn Therapeutics Inc. currently boasts a Zacks Rank of #3 (Hold).
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