Alnylam Pharmaceuticals (ALNY) shares rallied 8.5% in the last trading session to close at $243.27. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6% loss over the past four weeks.
The rise in share price came after President Trump announced a 90-day pause on his sweeping tariffs against non-retaliating countries.
This RNA interference drug developer is expected to post quarterly loss of $0.55 per share in its upcoming report, which represents a year-over-year change of -243.8%. Revenues are expected to be $587.45 million, up 18.8% 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 Alnylam, the consensus EPS estimate for the quarter has been revised 1.5% 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 ALNY 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 >>>>
Alnylam is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Immunome, Inc. (IMNM), finished the last trading session 11.7% higher at $6.21. IMNM has returned -36.3% over the past month.
Immunome's consensus EPS estimate for the upcoming report has changed +18.3% over the past month to -$0.67. Compared to the company's year-ago EPS, this represents a change of -97.1%. Immunome currently boasts a Zacks Rank of #3 (Hold).
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This article originally published on Zacks Investment Research (zacks.com).
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