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Alnylam (ALNY) Soars 8.4%: Is Further Upside Left in the Stock?
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Alnylam Pharmaceuticals (ALNY - Free Report) shares rallied 8.4% in the last trading session to close at $226.30. 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 10% loss over the past four weeks.
Earlier this week, the company presented positive top-line data from the phase III APOLLO-B study evaluating patisiran for the treatment of transthyretin-mediated (ATTR) amyloidosis with cardiomyopathy at the International Symposium on Amyloidosis. The study met its primary endpoint of change from baseline in the 6-Minute Walk Test versus placebo at 12 months. This might have driven the share price rally.
This RNA interference drug developer is expected to post quarterly loss of $1.91 per share in its upcoming report, which represents a year-over-year change of -11.1%. Revenues are expected to be $287.7 million, up 53.3% 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 remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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.
Alnylam is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Biogen Inc. (BIIB - Free Report) , finished the last trading session 3.6% higher at $207.98. BIIB has returned -9.2% over the past month.
Biogen Inc.'s consensus EPS estimate for the upcoming report has changed -0.8% over the past month to $4.15. Compared to the company's year-ago EPS, this represents a change of -13%. Biogen Inc. currently boasts a Zacks Rank of #3 (Hold).
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Alnylam (ALNY) Soars 8.4%: Is Further Upside Left in the Stock?
Alnylam Pharmaceuticals (ALNY - Free Report) shares rallied 8.4% in the last trading session to close at $226.30. 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 10% loss over the past four weeks.
Earlier this week, the company presented positive top-line data from the phase III APOLLO-B study evaluating patisiran for the treatment of transthyretin-mediated (ATTR) amyloidosis with cardiomyopathy at the International Symposium on Amyloidosis. The study met its primary endpoint of change from baseline in the 6-Minute Walk Test versus placebo at 12 months. This might have driven the share price rally.
This RNA interference drug developer is expected to post quarterly loss of $1.91 per share in its upcoming report, which represents a year-over-year change of -11.1%. Revenues are expected to be $287.7 million, up 53.3% 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 remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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, Biogen Inc. (BIIB - Free Report) , finished the last trading session 3.6% higher at $207.98. BIIB has returned -9.2% over the past month.
Biogen Inc.'s consensus EPS estimate for the upcoming report has changed -0.8% over the past month to $4.15. Compared to the company's year-ago EPS, this represents a change of -13%. Biogen Inc. currently boasts a Zacks Rank of #3 (Hold).