Yahoo Finance Silence Therapeutics PLC Sponsored ADR (SLN) Stock Jumps 9.3%: Will It Continue to Soar?
Silence Therapeutics PLC Sponsored ADR (SLN) shares soared 9.3% in the last trading session to close at $11.16. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 20.4% loss over the past four weeks.
The sudden surge in the stock price can be attributed to positive momentum built around the company's pipeline progress. In January 2023, Silence announced the completion of dosing of the first subjects in the SLN360 phase II study to treat cardiovascular discease. Enrollment completion in the study is expected by 2023-end. Silence's other candidate, SLN124 is also being studied in a phase I/II study for the treatment of hematological diseases. Data from the ongoing phase I portion of the study is also expected by 2023-end.
This company is expected to post quarterly earnings of $0.45 per share in its upcoming report, which represents a year-over-year change of +207.1%. Revenues are expected to be $36.3 million, up 689.1% 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 Silence Therapeutics PLC Sponsored ADR, 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 SLN 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 >>>>
Silence Therapeutics PLC Sponsored ADR is part of the Zacks Medical - Drugs industry. OptiNose (OPTN), another stock in the same industry, closed the last trading session 2.2% lower at $1.80. OPTN has returned 1.1% in the past month.
OptiNose's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.16. Compared to the company's year-ago EPS, this represents a change of +30.4%. OptiNose currently boasts a Zacks Rank of #3 (Hold).
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