Beam Therapeutics (BEAM) Moves 12.6% Higher: Will This Strength Last?

Beam Therapeutics Inc. (BEAM) shares ended the last trading session 12.6% higher at $16.37. 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 45% loss over the past four weeks.The stock surged in response to the broader market rally after President Trump announced a 90-day pause on the sweeping tariffs against non-retaliating countries.This company is expected to post quarterly loss of $1.11 per share in its upcoming report, which represents a year-over-year change of +8.3%. Revenues are expected to be $15.34 million, up 107% 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 Beam Therapeutics, the consensus EPS estimate for the quarter has been revised 4.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BEAM 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 >>>>Beam Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. MeiraGTx Holdings PLC (MGTX), another stock in the same industry, closed the last trading session 2.5% higher at $5.37. MGTX has returned -14.1% in the past month.For MeiraGTx, the consensus EPS estimate for the upcoming report has changed +30.4% over the past month to -$0.38. This represents a change of +50.7% from what the company reported a year ago. MeiraGTx currently has a Zacks Rank of #3 (Hold).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them 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 report Beam Therapeutics Inc. (BEAM): Free Stock Analysis Report MeiraGTx Holdings PLC (MGTX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks