Strength Seen in Inhibrx, Inc. (INBX): Can Its 9.9% Jump Turn into More Strength?
Inhibrx, Inc. INBX shares soared 9.9% in the last trading session to close at $26.99. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 37.7% gain over the past four weeks.
The surge in the stock price is likely to be an outcome of the positive momentum built around the company's pipeline. The company is significantly progressing across pipelines in developing therapies targeting various cancer indications and alpha-1 antitrypsin deficiency.
This company is expected to post quarterly loss of $0.84 per share in its upcoming report, which represents a year-over-year change of -5%. Revenues are expected to be $0.3 million, down 67.7% 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 Inhibrx, Inc., 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 INBX 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 >>>>
Inhibrx, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Zai Lab Limited Unsponsored ADR ZLAB, another stock in the same industry, closed the last trading session 4.4% higher at $33.97. ZLAB has returned -3.9% in the past month.
Zai Lab Limited Unsponsored ADR's consensus EPS estimate for the upcoming report has changed +7.5% over the past month to -$0.94. Compared to the company's year-ago EPS, this represents a change of -9.3%. Zai Lab Limited Unsponsored ADR currently boasts a Zacks Rank of #3 (Hold).
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Inhibrx, Inc. (INBX) : Free Stock Analysis Report
Zai Lab Limited Unsponsored ADR (ZLAB) : Free Stock Analysis Report
