Profound Medical (PROF) shares rallied 13% in the last trading session to close at $5.82. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 28% loss over the past four weeks.
Earlier this month, the company reported results from the CAPTAIN study comparing its MRI-guided TULSA procedure with robotic radical prostatectomy (RP) in men with localized prostate cancer. The data showed that Profound’s TULSA delivered a meaningful and statistically significant improvement over robotic RP in preserving erectile function, along with urinary continence at six months. This might have driven the recent share price rally.
This company is expected to post quarterly loss of $0.24 per share in its upcoming report, which represents a year-over-year change of +33.3%. Revenues are expected to be $5.09 million, up 94.4% 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 Profound Medical, the consensus EPS estimate for the quarter has been revised 8.2% 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 PROF 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 >>>>
Profound Medical belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, Aclaris Therapeutics (ACRS), closed the last trading session 8.8% higher at $3.59. Over the past month, ACRS has returned -1.8%.
For Aclaris, the consensus EPS estimate for the upcoming report has changed -15.7% over the past month to -$0.16. This represents a change of -33.3% from what the company reported a year ago. Aclaris currently has a Zacks Rank of #3 (Hold).
Zacks Names #1 Semiconductor Stock
This under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.
See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Profound Medical (PROF): Free Stock Analysis Report
Aclaris Therapeutics, Inc. (ACRS): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).