scPharmaceuticals, Inc. (SCPH) shares soared 8.8% in the last trading session to close at $5.84. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 35.3% gain over the past four weeks.
The sudden price rise can be attributed to growing investor optimism related to the initial sales uptake of the company's marketed product, Furoscix (furosemide injection), which is indicated for the treatment of edema in adult patients with chronic heart failure or chronic kidney disease, including nephrotic syndrome.
This company is expected to post quarterly loss of $0.30 per share in its upcoming report, which represents a year-over-year change of +31.8%. Revenues are expected to be $16.4 million, up 103.7% 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 scPharmaceuticals, 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 SCPH 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 >>>>
scPharmaceuticals is part of the Zacks Medical - Biomedical and Genetics industry. Celldex Therapeutics (CLDX), another stock in the same industry, closed the last trading session 2.7% lower at $23.22. CLDX has returned 11.2% in the past month.
Celldex's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.86. Compared to the company's year-ago EPS, this represents a change of -59.3%. Celldex currently boasts a Zacks Rank of #3 (Hold).
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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.
