Morphic Holding, Inc. (MORF Quick QuoteMORF - Free Report) shares rallied 6% in the last trading session to close at $52.63. 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 3.3% loss over the past four weeks.

The company's early-stage pipeline candidate, MORF-057, has shown encouraging result in clinical studies, boosting Morphic's propsects. This is likley driving the company's share price for the past few days.

Price and Consensus

This company is expected to post quarterly loss of $0.55 per share in its upcoming report, which represents a year-over-year change of -5.8%. Revenues are expected to be $6 million, down 22% 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 Morphic Holding, Inc., the consensus EPS estimate for the quarter has been revised 1.8% 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 MORF 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 >>>>