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Bausch (BHC) Moves 13.3% Higher: Will This Strength Last?
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Bausch Health (BHC - Free Report) shares soared 13.3% in the last trading session to close at $5.10. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 35.7% loss over the past four weeks.
Shares gained a district court in the United States granted summary judgment in favor of the company, its gastroenterology business Salix Pharmaceuticals and Teva Pharmaceuticals against Norwich which is looking to get its generic version of Xifaxan approved.
This drugmaker is expected to post quarterly earnings of $1.46 per share in its upcoming report, which represents a year-over-year change of +147.5%. Revenues are expected to be $2.27 billion, up 5.5% 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 Bausch, 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 BHC going forward to see if this recent jump can turn into more strength down the road.
Bausch is a member of the Zacks Medical - Generic Drugs industry. One other stock in the same industry, Doctor Reddy's (RDY - Free Report) , finished the last trading session 1.7% higher at $13.67. RDY has returned 0% over the past month.
Doctor Reddy's' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.20. Compared to the company's year-ago EPS, this represents a change of +5.3%. Doctor Reddy's currently boasts a Zacks Rank of #3 (Hold).
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Bausch (BHC) Moves 13.3% Higher: Will This Strength Last?
Bausch Health (BHC - Free Report) shares soared 13.3% in the last trading session to close at $5.10. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 35.7% loss over the past four weeks.
Shares gained a district court in the United States granted summary judgment in favor of the company, its gastroenterology business Salix Pharmaceuticals and Teva Pharmaceuticals against Norwich which is looking to get its generic version of Xifaxan approved.
This drugmaker is expected to post quarterly earnings of $1.46 per share in its upcoming report, which represents a year-over-year change of +147.5%. Revenues are expected to be $2.27 billion, up 5.5% 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 Bausch, 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 BHC 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 >>>>
Bausch is a member of the Zacks Medical - Generic Drugs industry. One other stock in the same industry, Doctor Reddy's (RDY - Free Report) , finished the last trading session 1.7% higher at $13.67. RDY has returned 0% over the past month.
Doctor Reddy's' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.20. Compared to the company's year-ago EPS, this represents a change of +5.3%. Doctor Reddy's currently boasts a Zacks Rank of #3 (Hold).