Ionis Pharmaceuticals IONS shares rallied 8.9% in the last trading session to close at $27.77. 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 22.8% loss over the past four weeks.
The rise in share price came after President Trump announced a 90-day pause on his sweeping tariffs against non-retaliating countries.
This drug discovery and development company is expected to post quarterly loss of $1.07 per share in its upcoming report, which represents a year-over-year change of -9.2%. Revenues are expected to be $121.27 million, up 1.9% 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 Ionis Pharmaceuticals, the consensus EPS estimate for the quarter has been revised 2.3% 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 IONS 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 >>>>
Ionis Pharmaceuticals belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, USANA Health Sciences USNA, closed the last trading session 4.4% higher at $25.28. Over the past month, USNA has returned -26.9%.
USANA Health's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.74. Compared to the company's year-ago EPS, this represents a change of -14%. USANA Health currently boasts a Zacks Rank of #4 (Sell).
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Ionis Pharmaceuticals, Inc. (IONS): Free Stock Analysis Report USANA Health Sciences, Inc. (USNA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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