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Strength Seen in Alpine Immune Sciences, Inc. (ALPN): Can Its 7.5% Jump Turn into More Strength?

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Alpine Immune Sciences, Inc. (ALPN - Free Report) shares rallied 7.5% in the last trading session to close at $6.45. 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 15.6% loss over the past four weeks.

The stock rallied, driven by optimism over data that the company presented from the phase I healthy volunteer (HV) study — RUBY-1 — evaluating its dual B cell cytokine antagonist, ALPN-303 for multiple B cell and/or autoantibody-related diseases. The data, which was presented at the American Society of Nephrology’s Kidney Week meeting, showed that ALPN-303 was well tolerated.

This company is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of +81.8%. Revenues are expected to be $20.43 million, up 139.8% 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 Alpine Immune Sciences, Inc., the consensus EPS estimate for the quarter has been revised 152.6% 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 ALPN 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 >>>>

Alpine Immune Sciences, Inc. is part of the Zacks Medical - Drugs industry. Catalyst Pharmaceutical (CPRX - Free Report) , another stock in the same industry, closed the last trading session 3.3% higher at $13.98. CPRX has returned 6.2% in the past month.

Catalyst's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.19. Compared to the company's year-ago EPS, this represents a change of +90%. Catalyst currently boasts a Zacks Rank of #3 (Hold).

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