Jazz Pharmaceuticals JAZZ shares soared 7.1% in the last trading session to close at $110.12. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 24.9% loss over the past four weeks.
The rise in share price came after President Trump announced a 90-day pause on his sweeping tariffs against non-retaliating countries.
This drugmaker is expected to post quarterly earnings of $4.65 per share in its upcoming report, which represents a year-over-year change of +73.5%. Revenues are expected to be $978.58 million, up 8.5% 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 Jazz, the consensus EPS estimate for the quarter has been revised 3.2% 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 JAZZ going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Jazz is part of the Zacks Medical - Biomedical and Genetics industry. Novavax NVAX, another stock in the same industry, closed the last trading session 7% higher at $6.75. NVAX has returned -20.3% in the past month.
For Novavax
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>Jazz Pharmaceuticals PLC (JAZZ) : Free Stock Analysis Report
Novavax, Inc. (NVAX) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
