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Swedish Orphan Biovitrum (BIOVF) Stock Jumps 5.3%: Will It Continue to Soar?

Zacks Equity Research
·2-min read

Swedish Orphan Biovitrum (BIOVF) shares soared 5.3% in the last trading session to close at $22.27. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.5% loss over the past four weeks.

The promising prospect of its pipeline candidate, pegcetacoplan, in treating primary immune-complex membranoproliferative glomerulonephritis and C3 glomerulopathy is likely driving share prices higher. The company initiated dosing in a late-stage to evaluate the candidate in the aforementioned indications earlier this month.

This company is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of +25%. Revenues are expected to be $490.1 million, up 12.4% 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 Swedish Orphan Biovitrum, 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 BIOVF 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 >>>>

Swedish Orphan Biovitrum belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Coherus BioSciences (CHRS), closed the last trading session 1.5% higher at $7.50. Over the past month, CHRS has returned -3.5%.

For Coherus BioSciences , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.98. This represents a change of -145% from what the company reported a year ago. Coherus BioSciences currently has a Zacks Rank of #4 (Sell).


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