Xeris Biopharma (XERS) shares ended the last trading session 5.6% higher at $5.51. 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 34.9% gain over the past four weeks.

Earlier this week, the FDA approved Xeris’ supplemental new drug application for Gvoke VialDx for use as a diagnostic aid, designed to temporarily inhibit movement of the gastrointestinal tract in adult patients during radiologic diagnostic procedures. The company also entered into a partnership with American Regent to commercialize Gvoke VialDx in the United States. The growing optimism related to this development might have driven the recent share price rally.

This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +50%. Revenues are expected to be $57.75 million, up 42.1% 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 Xeris Biopharma, the consensus EPS estimate for the quarter has been revised 10% 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 XERS 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 >>>>

Xeris Biopharma is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, Aurinia Pharmaceuticals (AUPH), finished the last trading session 1.7% higher at $8.37. AUPH has returned 3% over the past month.

For Aurinia , the consensus EPS estimate for the upcoming report has changed -17.5% over the past month to $0.09. This represents a change of +400% from what the company reported a year ago. Aurinia currently has a Zacks Rank of #3 (Hold).

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