Ultragenyx (RARE) shares ended the last trading session 9.2% higher at $33.91. 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 19% 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 biotechnology company is expected to post quarterly loss of $1.58 per share in its upcoming report, which represents a year-over-year change of +22.2%. Revenues are expected to be $142.49 million, up 30.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Ultragenyx, 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 RARE 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 >>>>
Ultragenyx is part of the Zacks Medical - Biomedical and Genetics industry. Entrada Therapeutics, Inc. (TRDA), another stock in the same industry, closed the last trading session 9.5% higher at $8.27. TRDA has returned -29.1% in the past month.
For Entrada Therapeutics
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Ultragenyx Pharmaceutical Inc. (RARE): Free Stock Analysis Report Entrada Therapeutics, Inc. (TRDA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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