Strength Seen in Sanofi (SNY): Can Its 6.7% Jump Turn into More Strength?

Sanofi SNY shares soared 6.7% in the last trading session to close at $48.94. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.4% loss over the past four weeks.This jump in share price came after management reported positive results from a mid-stage study on its experimental anti-TL1A therapy, duvakitug, in Ulcerative Colitis and Crohn's disease, which are the two main types of inflammatory bowel disease. The study achieved its primary endpoints for both diseases. The drug is being developed in partnership with Teva Pharmaceuticals.This drugmaker is expected to post quarterly earnings of $0.77 per share in its upcoming report, which represents a year-over-year change of -13.5%. Revenues are expected to be $11.08 billion, down 5.8% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Sanofi, the consensus EPS estimate for the quarter has been revised 14.3% 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 SNY 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 >>>>Sanofi is part of the Zacks Large Cap Pharmaceuticals industry. AbbVie ABBV, another stock in the same industry, closed the last trading session 2.2% higher at $175.38. ABBV has returned 3.2% in the past month.AbbVie's consensus EPS estimate for the upcoming report has changed +0.1% over the past month to $2.99. Compared to the company's year-ago EPS, this represents a change of +7.2%. AbbVie currently boasts a Zacks Rank of #3 (Hold).Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.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 Sanofi (SNY): Free Stock Analysis Report AbbVie Inc. (ABBV): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks