Alpine Immune Sciences, Inc. (ALPN) Surges 6.2%: Is This an Indication of Further Gains?

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 >>>>

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
 
Alpine Immune Sciences, Inc. (ALPN) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research