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ADC Therapeutics SA (ADCT) Stock Jumps 21.8%: Will It Continue to Soar?
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ADC Therapeutics SA (ADCT - Free Report) shares rallied 21.8% in the last trading session to close at $5.20. 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 22.7% gain over the past four weeks.
Shares of the company were high as optimism builds around growth for the drug/biotech sector in 2023.
This company is expected to post quarterly loss of $0.49 per share in its upcoming report, which represents a year-over-year change of -25.6%. Revenues are expected to be $75.53 million, up 344% 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 ADC Therapeutics SA, the consensus EPS estimate for the quarter has been revised 37.5% 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 ADCT going forward to see if this recent jump can turn into more strength down the road.
ADC Therapeutics SA is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Blueprint Medicines (BPMC - Free Report) , finished the last trading session 6.8% higher at $50. BPMC has returned 0.2% over the past month.
Blueprint Medicines' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.70. Compared to the company's year-ago EPS, this represents a change of -172.7%. Blueprint Medicines currently boasts a Zacks Rank of #3 (Hold).
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ADC Therapeutics SA (ADCT) Stock Jumps 21.8%: Will It Continue to Soar?
ADC Therapeutics SA (ADCT - Free Report) shares rallied 21.8% in the last trading session to close at $5.20. 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 22.7% gain over the past four weeks.
Shares of the company were high as optimism builds around growth for the drug/biotech sector in 2023.
This company is expected to post quarterly loss of $0.49 per share in its upcoming report, which represents a year-over-year change of -25.6%. Revenues are expected to be $75.53 million, up 344% 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 ADC Therapeutics SA, the consensus EPS estimate for the quarter has been revised 37.5% 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 ADCT 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 >>>>
ADC Therapeutics SA is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Blueprint Medicines (BPMC - Free Report) , finished the last trading session 6.8% higher at $50. BPMC has returned 0.2% over the past month.
Blueprint Medicines' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.70. Compared to the company's year-ago EPS, this represents a change of -172.7%. Blueprint Medicines currently boasts a Zacks Rank of #3 (Hold).