BeiGene (ONC) Soars 3.2%: Is Further Upside Left in the Stock?

BeiGene, Ltd. (ONC) shares ended the last trading session 3.2% higher at $244.20. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.5% gain over the past four weeks.The stock price rally can be attributed to positive investor mindset regarding the sales growth potential of its internally discovered oncology products, including Brukinsa (zanubrutinib) and Tevimbra (tislelizumab). BeiGene has several other pipeline candidates that are being developed for treating various cancer indications.This company is expected to post quarterly loss of $0.80 per share in its upcoming report, which represents a year-over-year change of +77.3%. Revenues are expected to be $1.09 billion, up 71.5% 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 BeiGene, the consensus EPS estimate for the quarter has been revised 12.8% 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 ONC 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 >>>>BeiGene is part of the Zacks Medical - Biomedical and Genetics industry. Applied Therapeutics Inc. (APLT), another stock in the same industry, closed the last trading session 1.7% lower at $0.57. APLT has returned -8.5% in the past month.Applied Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.18. Compared to the company's year-ago EPS, this represents a change of +45.5%. Applied Therapeutics currently boasts a Zacks Rank of #3 (Hold).7 Best Stocks for the Next 30 DaysJust 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 +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BeiGene, Ltd. (ONC): Free Stock Analysis Report Applied Therapeutics Inc. (APLT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks