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Olink Holding AB publ Sponsored ADR (OLK) Surges 7.3%: Is This an Indication of Further Gains?

Olink Holding AB publ Sponsored ADR OLK shares ended the last trading session 7.3% higher at $9.60. 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 21.8% loss over the past four weeks.

Olink Holding AB recorded a solid price appreciation driven by investors’ positive response to the company forming a partnership with Erasmus Medical Center, Rotterdam. As per the company release, the Human Genomics Facility of the Erasmus Medical Center (Rotterdam Human Genomics Facility (HuGe-F)) which is one of Europe’s largest high-throughput genomics facilities, has adopted the Olink technology, becoming the first Olink Explore certified laboratory in the Netherlands. This latest partnership aims at offering a new opportunity to combine several layers of multi-omics approaches to unravel mechanisms of human disease biology and accelerate development of new therapies.

This company is expected to post quarterly loss of $0.13 per share in its upcoming report, which represents a year-over-year change of -44.4%. Revenues are expected to be $26.52 million, up 49.9% 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 Olink Holding AB publ Sponsored ADR, the consensus EPS estimate for the quarter has been revised 3.7% 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 OLK 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 >>>>

Olink Holding AB publ Sponsored ADR is part of the Zacks Medical Info Systems industry. AllScripts Healthcare MDRX, another stock in the same industry, closed the last trading session 1.2% higher at $15. MDRX has returned -11.6% in the past month.

AllScripts' consensus EPS estimate for the upcoming report has changed -4.9% over the past month to $0.18. Compared to the company's year-ago EPS, this represents a change of -21.7%. AllScripts currently boasts a Zacks Rank of #3 (Hold).

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