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Stoke Therapeutics, Inc. (STOK) Moves 7.7% Higher: Will This Strength Last?
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Stoke Therapeutics, Inc. (STOK - Free Report) shares soared 7.7% in the last trading session to close at $11.99. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15.2% loss over the past four weeks.
The surge in the stock price is likely to be an outcome of the positive momentum built around the company's pipeline. Its lead clinical candidate, STK-001, is being evaluated in a phase I/II study for the treatment of Dravet syndrome.
This company is expected to post quarterly loss of $0.65 per share in its upcoming report, which represents a year-over-year change of -3.2%. Revenues are expected to be $4 million, up 23.8% 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 Stoke Therapeutics, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on STOK going forward to see if this recent jump can turn into more strength down the road.
Stoke Therapeutics, Inc. is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, MeiraGTx Holdings PLC (MGTX - Free Report) , finished the last trading session 2.9% higher at $7.19. MGTX has returned 1.8% over the past month.
For MeiraGTx Holdings PLC, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.59. This represents a change of +22.4% from what the company reported a year ago. MeiraGTx Holdings PLC currently has a Zacks Rank of #3 (Hold).
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Stoke Therapeutics, Inc. (STOK) Moves 7.7% Higher: Will This Strength Last?
Stoke Therapeutics, Inc. (STOK - Free Report) shares soared 7.7% in the last trading session to close at $11.99. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15.2% loss over the past four weeks.
The surge in the stock price is likely to be an outcome of the positive momentum built around the company's pipeline. Its lead clinical candidate, STK-001, is being evaluated in a phase I/II study for the treatment of Dravet syndrome.
This company is expected to post quarterly loss of $0.65 per share in its upcoming report, which represents a year-over-year change of -3.2%. Revenues are expected to be $4 million, up 23.8% 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 Stoke Therapeutics, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on STOK going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Stoke Therapeutics, Inc. is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, MeiraGTx Holdings PLC (MGTX - Free Report) , finished the last trading session 2.9% higher at $7.19. MGTX has returned 1.8% over the past month.
For MeiraGTx Holdings PLC, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.59. This represents a change of +22.4% from what the company reported a year ago. MeiraGTx Holdings PLC currently has a Zacks Rank of #3 (Hold).