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Albireo Pharma (ALBO) Soars 14.4%: Is Further Upside Left in the Stock?
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Albireo Pharma shares ended the last trading session 14.4% higher at $23.42. 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 9.9% gain over the past four weeks.
The stock rallied driven by optimism over the positive top-line data, which the company announced from the phase III ASSERT study evaluating the safety and efficacy of Bylvay in Alagille syndrome patients from birth to early adulthood. The study met its primary and key secondary endpoints.
This company is expected to post quarterly loss of $1.90 per share in its upcoming report, which represents a year-over-year change of -50.8%. Revenues are expected to be $8.9 million, up 143.2% 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 Albireo Pharma, 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 ALBO going forward to see if this recent jump can turn into more strength down the road.
Albireo Pharma is part of the Zacks Medical - Biomedical and Genetics industry. Moderna (MRNA - Free Report) , another stock in the same industry, closed the last trading session 2.2% lower at $120.72. MRNA has returned -12% in the past month.
For Moderna, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $5.20. This represents a change of -32.5% from what the company reported a year ago. Moderna currently has a Zacks Rank of #3 (Hold).
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Albireo Pharma (ALBO) Soars 14.4%: Is Further Upside Left in the Stock?
Albireo Pharma shares ended the last trading session 14.4% higher at $23.42. 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 9.9% gain over the past four weeks.
The stock rallied driven by optimism over the positive top-line data, which the company announced from the phase III ASSERT study evaluating the safety and efficacy of Bylvay in Alagille syndrome patients from birth to early adulthood. The study met its primary and key secondary endpoints.
This company is expected to post quarterly loss of $1.90 per share in its upcoming report, which represents a year-over-year change of -50.8%. Revenues are expected to be $8.9 million, up 143.2% 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 Albireo Pharma, 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 ALBO 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 >>>>
Albireo Pharma is part of the Zacks Medical - Biomedical and Genetics industry. Moderna (MRNA - Free Report) , another stock in the same industry, closed the last trading session 2.2% lower at $120.72. MRNA has returned -12% in the past month.
For Moderna, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $5.20. This represents a change of -32.5% from what the company reported a year ago. Moderna currently has a Zacks Rank of #3 (Hold).