Alpine Immune Sciences, Inc.
ALPN
shares ended the last trading session 6.2% higher at $11. 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 9.1% gain over the past four weeks.
This surge was most likely attributable to the purchase of Alpine’s shares by two directors of the company on Sep 21 and Sep 23 based on data from the company’s SEC filings. Alpine reported a $91-million private placement with certain institutional and accredited investors. Also, development of company’s pipeline candidates ALPN-101 and ALPN-202 for the treatment of systemic lupus erythematosus and multiple cancer indications, respectively, bode well.
This company is expected to post quarterly loss of $0.09 per share in its upcoming report, which represents a year-over-year change of +67.9%. Revenues are expected to be $18.48 million, up 867.3% 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 been revised 475% 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 >>>>
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report