Esperion Therapeutics (ESPR) Moves 6.5% Higher: Will This Strength Last?
Esperion Therapeutics (ESPR) shares ended the last trading session 6.5% higher at $8.17. 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 8% gain over the past four weeks.
The stock’s upside was driven by investors’ optimism over Esperion’s upcoming third-quarter 2022 release. The company, which currently has two FDA-approved drugs — Nexletol and Nexlizet — in its portfolio, is attracting investors due to its pipeline progress.
This biopharmaceutical company is expected to post quarterly loss of $0.92 per share in its upcoming report, which represents a year-over-year change of +64.9%. Revenues are expected to be $20.07 million, up 39.3% 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 Esperion Therapeutics, 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 ESPR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Esperion Therapeutics is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, Alpine Immune Sciences, Inc. (ALPN), finished the last trading session 0.2% higher at $6.71. ALPN has returned -17.9% over the past month.
For Alpine Immune Sciences, Inc. , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.13. This represents a change of +76.4% from what the company reported a year ago. Alpine Immune Sciences, Inc. currently has a Zacks Rank of #3 (Hold).
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