VAXART, INC. (VXRT) Moves 5.6% Higher: Will This Strength Last?
VAXART, INC. (VXRT) shares ended the last trading session 5.6% higher at $7.55. 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 19.8% loss over the past four weeks.
VXRT extended its rally for the third straight day, driven by optimism over its oral COVID-19 vaccine candidate, VXA-CoV2-1 for which the company plans to initiate the first phase II study in the second quarter of 2021.
Price and Consensus
This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of -250%. Revenues are expected to be $0.8 million, down 72.4% 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 VAXART, 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 VXRT 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 >>>>
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