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Strength Seen in Rhythm Pharmaceuticals (RYTM): Can Its 12.6% Jump Turn into More Strength?
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Rhythm Pharmaceuticals, Inc. (RYTM - Free Report) shares rallied 12.6% in the last trading session to close at $86.97. 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 18.6% loss over the past four weeks.
Last week, the company announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) rendered a positive opinion recommending the expansion of the current marketing authorization for Imcivree (setmelanotide) to include the treatment of obesity and the control of hunger in adults and children aged four years and above with acquired hypothalamic obesity (HO) due to hypothalamic injury or impairment. This might have driven the recent share price rally.
This company is expected to post quarterly loss of $0.84 per share in its upcoming report, which represents a year-over-year change of -3.7%. Revenues are expected to be $56.51 million, up 72.8% 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 Rhythm Pharmaceuticals, the consensus EPS estimate for the quarter has been revised 2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RYTM going forward to see if this recent jump can turn into more strength down the road.
Rhythm Pharmaceuticals belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Moderna (MRNA - Free Report) , closed the last trading session 5.3% higher at $50.8. Over the past month, MRNA has returned -8.7%.
For Moderna, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.03. This represents a change of +19.4% from what the company reported a year ago. Moderna currently has a Zacks Rank of #3 (Hold).
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Strength Seen in Rhythm Pharmaceuticals (RYTM): Can Its 12.6% Jump Turn into More Strength?
Rhythm Pharmaceuticals, Inc. (RYTM - Free Report) shares rallied 12.6% in the last trading session to close at $86.97. 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 18.6% loss over the past four weeks.
Last week, the company announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) rendered a positive opinion recommending the expansion of the current marketing authorization for Imcivree (setmelanotide) to include the treatment of obesity and the control of hunger in adults and children aged four years and above with acquired hypothalamic obesity (HO) due to hypothalamic injury or impairment. This might have driven the recent share price rally.
This company is expected to post quarterly loss of $0.84 per share in its upcoming report, which represents a year-over-year change of -3.7%. Revenues are expected to be $56.51 million, up 72.8% 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 Rhythm Pharmaceuticals, the consensus EPS estimate for the quarter has been revised 2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RYTM 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 >>>>
Rhythm Pharmaceuticals belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Moderna (MRNA - Free Report) , closed the last trading session 5.3% higher at $50.8. Over the past month, MRNA has returned -8.7%.
For Moderna, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.03. This represents a change of +19.4% from what the company reported a year ago. Moderna currently has a Zacks Rank of #3 (Hold).