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Alpine Immune Sciences, Inc. (ALPN) Surges 8.9%: Is This an Indication of Further Gains?

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Alpine Immune Sciences, Inc. (ALPN - Free Report) shares soared 8.9% in the last trading session to close at $9.30. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 24.4% loss over the past four weeks.

Shares of the company have been rising on optimism around the company's progress with its pipeline candidates, povetacicept and acazicolcept, which are being developed for treating various autoimmune and inflammatory diseases.

This company is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of +19.1%. Revenues are expected to be $7.58 million, down 9.4% 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 Alpine Immune Sciences, Inc., 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 ALPN going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #1 (Strong 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. Enanta Pharmaceuticals (ENTA - Free Report) , another stock in the same industry, closed the last trading session 1.1% lower at $8.35. ENTA has returned -25.3% in the past month.

For Enanta Pharmaceuticals, the consensus EPS estimate for the upcoming report has changed -0.9% over the past month to -$2.11. This represents a change of -66.1% from what the company reported a year ago. Enanta Pharmaceuticals currently has a Zacks Rank of #5 (Strong Sell).

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