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Rigel Pharmaceuticals, Inc. (RIGL) - free report >>
Silence Therapeutics PLC Sponsored ADR (SLN) - free report >>
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Rigel Pharmaceuticals, Inc. (RIGL) - free report >>
Silence Therapeutics PLC Sponsored ADR (SLN) - free report >>
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Silence Therapeutics (SLN) Surges 5.7%: Is This an Indication of Further Gains?
Silence Therapeutics PLC Sponsored ADR (SLN - Free Report) shares soared 5.7% in the last trading session to close at $22.36. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 17.4% loss over the past four weeks.
Earlier this week, the company announced the publication of additional data from the phase I APOLLO study evaluating its pipeline candidate, zerlasiran (SLN360), in subjects with baseline lipoprotein(a), or Lp(a), levels at or over 150 nmol/L in the Journal of the American Medical Association. The published findings showed that treatment with zerlasiran was well-tolerated and significantly reduced Lp(a) after single and multiple dosing. This might have driven the share price rally.
This company is expected to post quarterly loss of $0.23 per share in its upcoming report, which represents a year-over-year change of +34.3%. Revenues are expected to be $4.53 million, down 67.2% 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 Silence Therapeutics, the consensus EPS estimate for the quarter has been revised 54.1% 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 SLN 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 >>>>
Silence Therapeutics is part of the Zacks Medical - Drugs industry. Rigel Pharmaceuticals (RIGL - Free Report) , another stock in the same industry, closed the last trading session 0.8% higher at $1.23. RIGL has returned -15.9% in the past month.
Rigel's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. Compared to the company's year-ago EPS, this represents a change of +62.5%. Rigel currently boasts a Zacks Rank of #3 (Hold).