Yahoo Finance BeiGene, Ltd. (BGNE) Surges 12.5%: Is This an Indication of Further Gains?
BeiGene, Ltd. (BGNE) shares ended the last trading session 12.5% higher at $238.45. 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 6.9% loss over the past four weeks.
The sudden soaring in the stock prices is likely due to the positive investors' mindset regarding the recent collaboration deal between BeiGene and Israel-based Enlivex Therapeutics. The collaboration deal includes evaluating the safety and efficacy of Allocetra, Enlivex's cell therapy candidate, in combination with BeiGene's tislelizumab, an anti-PD-I immune checkpoint inhibitor, for the treatment of patients with advanced-stage solid tumors, in a phase I/II study. Per the terms of the agreement, Enlivex is tasked with carrying out the ongoing dose escalation study of Allocetra as a monotherapy and in combination with tislelizumab, while BeiGene will supply Enlivex with tislelizumab.
This company is expected to post quarterly loss of $3.43 per share in its upcoming report, which represents a year-over-year change of +19.1%. Revenues are expected to be $440.8 million, up 43.8% 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 BeiGene, Ltd., 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 BGNE 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 >>>>
BeiGene, Ltd. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, DBV Technologies S.A. (DBVT), closed the last trading session 0.6% lower at $1.72. Over the past month, DBVT has returned 0%.
DBV Technologies S.A.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.25. Compared to the company's year-ago EPS, this represents a change of -66.7%. DBV Technologies S.A. currently boasts a Zacks Rank of #3 (Hold).
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