Alpine Immune Sciences (ALPN) Moves 10.4% Higher: Will This Strength Last?

Alpine Immune Sciences, Inc. (ALPN) shares ended the last trading session 10.4% higher at $38.53. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.8% loss over the past four weeks.

The sudden increase in the stock can be attributed to the rising 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 $0.44 per share in its upcoming report, which represents a year-over-year change of -57.1%. Revenues are expected to be $5.5 million, down 41.4% 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, the consensus EPS estimate for the quarter has been revised 39.4% 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 ALPN 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 >>>>

Alpine Immune Sciences belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, Gain Therapeutics, Inc. (GANX), closed the last trading session 3.7% lower at $3.43. Over the past month, GANX has returned -24.7%.

For Gain Therapeutics , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.28. This represents a change of +34.9% from what the company reported a year ago. Gain Therapeutics currently has a Zacks Rank of #2 (Buy).

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