BioMarin Pharmaceutical BMRN shares ended the last trading session 6.3% higher at $59.43. 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 20.7% 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 rare disease biopharmaceutical is expected to post quarterly earnings of $0.95 per share in its upcoming report, which represents a year-over-year change of +33.8%. Revenues are expected to be $738.75 million, up 13.9% 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 BioMarin, the consensus EPS estimate for the quarter has been revised marginally 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 BMRN 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 >>>>
BioMarin belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Merus N.V. MRUS, closed the last trading session 13.4% higher at $39.56. Over the past month, MRUS has returned -26.7%.
Merus' consensus EPS estimate for the upcoming report has changed -3.7% over the past month to -$1.17. Compared to the company's year-ago EPS, this represents a change of -98.3%. Merus 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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