Fate Therapeutics
FATE
shares ended the last trading session 9.3% higher at $11.12. 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 46.9% loss over the past four weeks.
This rise in price is attributable to positive investor sentiments towards the company’s cell therapy pipeline consisting of cellular immunotherapies targeting cancer and immune disorders. The company is progressing well with FT596 and FT516 therapies, both targeting B-cell lymphoma in early-stage clinical studies.
This clinical-stage biotech company that develops stem cell treatments is expected to post quarterly loss of $0.87 per share in its upcoming report, which represents a year-over-year change of -20.8%. Revenues are expected to be $20.11 million, up 17.8% 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 Fate 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 FATE 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 >>>>
Fate Therapeutics is part of the Zacks Medical – Biomedical and Genetics industry.
Blueprint Medicines
BPMC
, another stock in the same industry, closed the last trading session 9.4% higher at $47.37. BPMC has returned -10.7% in the past month.
For Blueprint Medicines
, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.70. This represents a change of -172.7% from what the company reported a year ago. Blueprint Medicines currently has a Zacks Rank of #4 (Sell).
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
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
