Medical Diagnostics Stock Up Sharply On Explosive Revenue Growth
Daily Stock Market Summary: Markets are starting off this week’s trading on the heels of last week’s refreshing bullish run. Acute fears over inflation and trade conflict with China appear to be easing, driving the best sustained rally in months. The volatility surge of the past several months seems to be finally be abating—for the moment at least (core concerns for many analysts, chiefly the price dynamics of a peak business cycle environment, still linger).
An incredibly positive earnings season has provided the market with sufficient momentum to punch through geopolitical headwinds. It also creates ample profit opportunities for news-based traders—like today’s Top Performer. If you’d like to learn more about trading earnings news, we’ve assembled a free guide that covers the fundamentals; you can access it using the button below:
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Today’s Top Performer: Precipio (NASDAQ:PRPO)
Precipio is a medical diagnostics firm, centering on a platform designed to use data to help prevent misdiagnosis in medicine, potentially improving both patient outcomes and controlling costs.
Today, they announced preliminary financial results for Q1, 2018. Revenues are up a projected 286% year over year. That strong earnings growth actually represents a slight slowdown from the previous quarter, which executives report included the clearing of an order backlog. PRPO credits its development of a more extensive sales infrastructure for its sharp uptick in revenue.
The news is a driving a buying spree for investors, who pushed the stock up as much as 70%, just over 30% at the time of this writing. The stock still sits 50% below a recent high from January, 2018, and could have some room to run if it can sustain this sort of sales growth.
Pharma and medical device stocks continue to be one of the most consistent sources of profit for News Quantified users. Keep checking the News Quantified blog as we take a look at a powerful sample of the 1000’s of profitable opportunities available to our users each week.