Figs shares jump after Q2 earnings review

Figs stock climbed 8.5% in morning trading on Monday to reach $17.13, following renewed investor attention to the healthcare apparel company's second-quarter performance.

An industry-wide Q2 earnings review released on Monday identified Figs as the top performer among consumer discretionary apparel and accessories companies. The company reported revenues of $196.6 million, which came in 5.6% above Wall Street's expectations. Earnings per share of $0.15 beat the consensus estimate of $0.07.

Multiple Wall Street firms have raised their price targets for the stock in recent weeks, with targets now ranging from $18 to $22 and a consensus buy rating. Full-year earnings estimates for the company have climbed roughly 23% over the past quarter.

The stock gained 6.5% on above-average volume earlier in the past week. Monday's increase brought shares close to their 52-week high of $17.48.

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