All You Need to Know About Passage Bio (PASG) Rating Upgrade to Buy

Core Viewpoint - Passage Bio, Inc. (PASG) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system emphasizes the correlation between changes in earnings estimates and stock price movements, suggesting that an upward revision in earnings estimates can lead to increased buying pressure and higher stock prices [4][5]. - For the fiscal year ending December 2024, Passage Bio is expected to earn -$1.22 per share, reflecting a 34.4% change from the previous year's reported number, with a 10.9% increase in the Zacks Consensus Estimate over the past three months [8]. Zacks Rating System - The Zacks Rank stock-rating system categorizes stocks into five groups based on earnings estimates, with a proven track record of Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [7]. - The upgrade of Passage Bio to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for near-term price movement due to favorable earnings estimate revisions [11].