Kronos Bio, Inc. (KRON) Expected to Beat Earnings Estimates: Should You Buy?

Core Viewpoint - The market anticipates Kronos Bio, Inc. (KRON) to report a year-over-year increase in earnings despite lower revenues for the quarter ended June 2024, with actual results being crucial for stock price movement [1] Earnings Expectations - The consensus EPS estimate for Kronos Bio is a loss of $0.32 per share, reflecting a year-over-year change of +38.5% [3] - Expected revenues are projected at $1.75 million, which is a decrease of 5.9% from the same quarter last year [3] Estimate Revisions - The consensus EPS estimate has been revised 15.87% higher in the last 30 days, indicating a positive reassessment by analysts [4] - The Most Accurate Estimate for Kronos Bio is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +1.03% [10] Earnings Surprise Prediction - A positive Earnings ESP is a strong indicator of an earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) [8] - Kronos Bio currently holds a Zacks Rank of 2, suggesting a high likelihood of beating the consensus EPS estimate [10] Historical Performance - In the last reported quarter, Kronos Bio was expected to post a loss of $0.43 per share but actually reported a loss of $0.50, resulting in a surprise of -16.28% [11] - Over the past four quarters, the company has only beaten consensus EPS estimates once [12] Industry Context - In the Zacks Medical - Biomedical and Genetics industry, Iovance Biotherapeutics (IOVA) is expected to report a loss of $0.37 per share for the same quarter, indicating a year-over-year change of +21.3% [16] - Iovance's revenue is projected to be $22.59 million, a significant increase of 9312.5% from the previous year [16] - The consensus EPS estimate for Iovance has been revised 6.6% lower, but a higher Most Accurate Estimate has resulted in an Earnings ESP of 7.83%, suggesting a likely earnings beat [17]