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Strength Seen in Provention Bio, Inc. (PRVB): Can Its 25.7% Jump Turn into More Strength?

Provention Bio, Inc. (PRVB) shares rallied 25.7% in the last trading session to close at $6.22. 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 2.7% gain over the past four weeks.

The stock rallied driven by optimism over the company’s collaboration and co-promotion agreement with Sanofi for the commercialization of lead investigational drug candidate teplizumab.

This company is expected to post quarterly loss of $0.46 per share in its upcoming report, which represents a year-over-year change of -7%. Revenues are expected to be $0.88 million, up 28.7% 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 Provention Bio, Inc., the consensus EPS estimate for the quarter has been revised 14.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on PRVB 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 >>>>

Provention Bio, Inc. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, EyePoint Pharmaceuticals (EYPT), closed the last trading session 3.2% lower at $6.29. Over the past month, EYPT has returned -31.2%.

EyePoint Pharmaceuticals' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.70. Compared to the company's year-ago EPS, this represents a change of -20.7%. EyePoint Pharmaceuticals currently boasts a Zacks Rank of #3 (Hold).


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