Is This an Indication of Further Gains?
Inogenous (INGN) ended the last trading session up 6.9% at $6.8. The jump occurred on impressive volume with an above-average number of shares changing hands during the session. This compares to the stock’s “no win, no loss” position over the past four weeks.
The sharp rise in INGN stock can be attributed to a bullish initiation from Freedom Broker, which assigned a “Buy” rating and a price target implying significant upside, drawing new investor attention to the under-followed stock. Sentiment was also supported by governance improvements, including the appointment of industry veteran Vafa Jamali to the board and a cooperative agreement with activist shareholder Kent Lake, signaling better strategic alignment and execution oversight.
This production of oxygen concentrators for patients suffering from chronic respiratory diseases is expected to post a quarterly loss of $0.24 per share in its next report, representing a year-over-year change of +4%. Revenue is expected to be $82.4 million, up 0.2% from the same quarter last year.
While expectations for earnings and revenue growth are important in assessing the potential strength of a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Inogen, the consensus EPS estimate for the quarter remained unchanged over the past 30 days. And a stock’s price typically doesn’t continue to rise absent a trend in earnings estimate revisions. So be sure to keep an eye on INGN in the future to see if this recent jump can turn into more strength in the future.
Inogen is a member of the Zacks Medical – Instruments industry. Another title in the same sector, PROCEPT BioRobotics Corporation (PRCT), ended the last trading session down 2.5% at $23.19. PRCT returned -5.9% over the past month.
For PROCEPT BIOROBO, the consensus EPS estimate for the upcoming report has changed -16.7% over the past month to -$0.55. This represents a change of -22.2% from what the company reported a year ago. PROCEPT BIOROBO currently has a Zacks Rank of #4 (Sell).
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