Agios Pharmaceuticals (AGIO) Moves 7.7% Higher: Will This Strength Last?

Agios Pharmaceuticals AGIO shares ended the last trading session 7.7% higher at $39.07. 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 5.1% gain over the past four weeks.This increase is due to positive investor sentiment toward the stock. A regulatory filing is currently under the FDA’s review, seeking label expansion for its sole-marketed drug, Pyrukynd, across all thalassemia subtypes. A final decision is expected by Sept. 7. If approved, it will likely benefit non-transfusion-dependent patients since there is currently no approved marketed therapy for this patient population.This biopharmaceutical company is expected to post quarterly loss of $1.74 per share in its upcoming report, which represents a year-over-year change of -3%. Revenues are expected to be $9.23 million, up 7.2% 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 Agios Pharmaceuticals, 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 AGIO 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 >>>>Agios Pharmaceuticals is part of the Zacks Medical - Biomedical and Genetics industry. Phathom Pharmaceuticals, Inc. PHAT, another stock in the same industry, closed the last trading session 3.9% higher at $9.37. PHAT has returned 0.6% in the past month.Phathom Pharmaceuticals' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.76. Compared to the company's year-ago EPS, this represents a change of +39.2%. Phathom Pharmaceuticals currently boasts a Zacks Rank of #2 (Buy).Higher. Faster. Sooner. Buy These Stocks NowA small number of stocks are primed for a breakout, and you have a chance to get in before they take off.At any given time, there are only 220 Zacks Rank #1 Strong Buys. On average, this list more than doubles the S&P 500. We’ve combed through the latest Strong Buys and selected 7 compelling companies likely to jump sooner and climb higher than any other stock you could buy this month.You'll learn everything you need to know about these exciting trades in our brand-new Special Report, 7 Best Stocks for the Next 30 Days.Download the report free now >>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 reportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks