Ascendis Pharma (ASND) Moves 9.9% Higher: Will This Strength Last?

Ascendis Pharma A/S (ASND) shares soared 9.9% in the last trading session to close at $261.58. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.2% gain over the past four weeks.The growing investor confidence related to the commercial performance of Ascendis Pharma’s two marketed drugs, Skytrofa and Yorvipath, which are approved for treating growth hormone deficiency and hypoparathyroidism, respectively, might have driven the recent share price rally.This company is expected to post quarterly earnings of $1.29 per share in its upcoming report, which represents a year-over-year change of +238.7%. Revenues are expected to be $355.73 million, up 98.4% 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 Ascendis Pharma, the consensus EPS estimate for the quarter has been revised marginally 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 ASND 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 >>>>Ascendis Pharma is part of the Zacks Medical - Biomedical and Genetics industry. Gilead Sciences (GILD), another stock in the same industry, closed the last trading session 1.1% lower at $123.84. GILD has returned -6.4% in the past month.For Gilead, the consensus EPS estimate for the upcoming report has changed -13.2% over the past month to -$7.2. This represents a change of -458.2% from what the company reported a year ago. Gilead currently has a Zacks Rank of #3 (Hold).Beyond Nvidia: AI's Second Wave Is HereThe AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.See Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks