BeOne Medicines Ltd. - Sponsored ADR (ONC) Surges 4.0%: Is This an Indication of Further Gains?

BeOne Medicines Ltd. - Sponsored ADR (ONC) shares ended the last trading session 4% higher at $290.35. 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 10.4% gain over the past four weeks.The recent stock price rally can be attributed to growing investor optimism regarding the sales growth potential of the company’s internally discovered oncology products, including Brukinsa (zanubrutinib) and Tevimbra (tislelizumab). BeOne Medicines also has several other pipeline candidates that are being developed for treating various cancer indications.This company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of +116.5%. Revenues are expected to be $1.23 billion, up 32.7% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For BeOne Medicines Ltd. - Sponsored ADR , the consensus EPS estimate for the quarter has been revised 60.7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate 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 >>>>BeOne Medicines Ltd. - Sponsored ADR is part of the Zacks Medical - Drugs industry. Metagenomi (MGX), another stock in the same industry, closed the last trading session 1.4% higher at $2.13. MGX has returned 41.9% in the past month.Metagenomi's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.68. Compared to the company's year-ago EPS, this represents a change of -134.5%. Metagenomi currently boasts a Zacks Rank of #4 (Sell).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They includeStock #1: A Disruptive Force with Notable Growth and ResilienceStock #2: Bullish Signs Signaling to Buy the DipStock #3: One of the Most Compelling Investments in the MarketStock #4: Leader In a Red-Hot Industry Poised for GrowthStock #5: Modern Omni-Channel Platform Coiled to SpringMost of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.Download Atomic Opportunity: Nuclear Energy's Comeback free today.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 BeOne Medicines Ltd. - Sponsored ADR (ONC): Free Stock Analysis Report Metagenomi, Inc. (MGX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks