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ProPhase Labs, Inc. (PRPH) Surges 7.6%: Is This an Indication of Further Gains?

Zacks Equity Research
·2-min read

ProPhase Labs, Inc. (PRPH) shares ended the last trading session 7.6% higher at $11.18. 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 22.7% gain over the past four weeks.

Earlier this month, the company announced that it has entered into partnership with world-renowned healthcare diagnostics to significantly expand its in-house clinical testing capabilities. This might have been driving the share price rally. Last month, the company reported robust financial results for the first quarter of 2022. This is also a positive.

This company is expected to post quarterly earnings of $0.17 per share in its upcoming report, which represents a year-over-year change of +288.9%. Revenues are expected to be $18.05 million, up 97.4% 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.

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For ProPhase Labs, 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 PRPH going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #1 (Strong 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. Corcept Therapeutics (CORT), another stock in the same industry, closed the last trading session 6.4% higher at $22.03. CORT has returned 3.2% in the past month.

Corcept's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.21. Compared to the company's year-ago EPS, this represents no change. Corcept currently boasts a Zacks Rank of #3 (Hold).


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Zacks Investment Research