Yahoo Finance Zealand Pharma AS (ZEAL) Moves 8.3% Higher: Will This Strength Last?
Zealand Pharma AS ZEAL shares rallied 8.3% in the last trading session to close at $30.65. 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 11.7% loss over the past four weeks.
The company received FDA approval for Zegalogu for treating diabetes last week. The drug is first FDA-approved commercial product in the company's portfolio. This is boosting investor sentiments for the company's prospects.
Price and Consensus
This company is expected to post quarterly loss of $0.98 per share in its upcoming report, which represents a year-over-year change of -326.1%. Revenues are expected to be $10.59 million, down 67.5% 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 Zealand Pharma AS, the consensus EPS estimate for the quarter has been revised 3% 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 ZEAL 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 >>>>
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