Repligen RGEN shares soared 3.7% in the last trading session to close at $116.11. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 28.1% loss over the past four weeks.

Positive investor sentiment for Repligen's various business segments might have driven the recent share price rally. The company recently purchased 908 Devices’ desktop portfolio of four devices for bioprocessing process analytical technology applications to improve its manufacturing efficiencies.

This drug developer is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of +25%. Revenues are expected to be $164.48 million, up 8.7% 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 Repligen, the consensus EPS estimate for the quarter has been revised 0.8% 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 RGEN 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 >>>>

Repligen belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Zealand Pharma A/S ZLDPF, closed the last trading session 5% lower at $58.87. Over the past month, ZLDPF has returned -19.6%.

For Zealand Pharma AS , the consensus EPS estimate for the upcoming report has changed +21.5% over the past month to -$0.77. This represents a change of -42.6% from what the company reported a year ago. Zealand Pharma AS currently has a Zacks Rank of #3 (Hold).

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This article originally published on Zacks Investment Research (zacks.com).

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