Xeris Biopharma (XERS) shares ended the last trading session 6.8% higher at $8.94. 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 34.1% gain over the past four weeks.
The sudden price rise can be attributed to growing investor confidence regarding Xeris’ growth prospects, especially its portfolio of marketed drugs comprising Recorlev, which is approved for the treatment of endogenous Cushing’s syndrome and Keveyis, which is approved for treating primary periodic paralysis. The company also markets Gvoke, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia.
This company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of +300%. Revenues are expected to be $90.73 million, up 26.8% 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.
For Xeris Biopharma, 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 XERS 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 >>>>
Xeris Biopharma belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, Guardian Pharmacy Services (GRDN), closed the last trading session 3.4% lower at $39.97. Over the past month, GRDN has returned 2.2%.
For Guardian Pharmacy, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.26. This represents a change of +13% from what the company reported a year ago. Guardian Pharmacy currently has a Zacks Rank of #2 (Buy).
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This article originally published on Zacks Investment Research (zacks.com).