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Alnylam (ALNY) Soars 3.6%: Is Further Upside Left in the Stock?
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Alnylam Pharmaceuticals (ALNY - Free Report) shares soared 3.6% in the last trading session to close at $191.76. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.1% loss over the past four weeks.
Earlier this month, the FDA approved Alnylam’s Oxlumo injection for the treatment of primary hyperoxaluria type 1 (PH1) to lower urinary oxalate (UOx) and plasma oxalate (POx) levels in pediatric and adult patients. This might have been driving the share price rally.
This RNA interference drug developer is expected to post quarterly loss of $1.85 per share in its upcoming report, which represents a year-over-year change of -7.6%. Revenues are expected to be $287.8 million, up 53.4% 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, Voyager Therapeutics (VYGR - Free Report) , finished the last trading session 1.3% higher at $6.19. VYGR has returned -7.3% over the past month.
For Voyager Therapeutics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.19. This represents a change of +71.6% from what the company reported a year ago. Voyager Therapeutics currently has a Zacks Rank of #3 (Hold).
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Alnylam (ALNY) Soars 3.6%: Is Further Upside Left in the Stock?
Alnylam Pharmaceuticals (ALNY - Free Report) shares soared 3.6% in the last trading session to close at $191.76. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.1% loss over the past four weeks.
Earlier this month, the FDA approved Alnylam’s Oxlumo injection for the treatment of primary hyperoxaluria type 1 (PH1) to lower urinary oxalate (UOx) and plasma oxalate (POx) levels in pediatric and adult patients. This might have been driving the share price rally.
This RNA interference drug developer is expected to post quarterly loss of $1.85 per share in its upcoming report, which represents a year-over-year change of -7.6%. Revenues are expected to be $287.8 million, up 53.4% 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, Voyager Therapeutics (VYGR - Free Report) , finished the last trading session 1.3% higher at $6.19. VYGR has returned -7.3% over the past month.
For Voyager Therapeutics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.19. This represents a change of +71.6% from what the company reported a year ago. Voyager Therapeutics currently has a Zacks Rank of #3 (Hold).