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Hyperfine (HYPR) to Release ACTION PMR Study Data for Swoop
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Hyperfine, Inc. (HYPR - Free Report) recently announced the results from a multi-site observational study, showing the importance of using Swoop system images to quickly assess stroke patients and help guide physicians in making critical treatment decisions. The study, set to be published in August 2024, includes a subset of the Acute Ischemic Stroke Detection with Portable MR (ACTION PMR) study data.
The study shows evidence that the Swoop system is a reliable tool for enabling critical stroke treatment choices in urgent care settings.
More on the ACTION PMR Study
The ACTION PMR study is a prospective, international, multi-site observational study, aimed at examining the integration of brain imaging with the portable Swoop system into the stroke diagnosis and treatment workflow.
ACTION PMR has enrolled more than 100 patients at four institutions and consists of a series of investigator-sponsored studies. The initial 100 patients allow for a direct comparison of stroke detection between ultra-low-field Magnetic resonance imaging (MRI), conventional high-field MRI, and computed tomography (CT) as a means to assess the capability of stroke detection of the Swoop system.
The study will continue into a workflow phase starting later this year, evaluating the ease of access and versatility of using the Swoop system in emergency departments and stroke centers within hospital networks.
More on the News
The study is named "Diffusion-Weighted Imaging and Fluid-Attenuated Inversion Recovery Mismatch on Portable, Low-Field Magnetic Resonance Imaging Among Acute Stroke Patients”. It will be published in the August issue of the Annals of Neurology. It included 71 patients and was conducted by a team from several institutions, including Massachusetts General Hospital and the University at Buffalo, two of the centers in the ACTION PMR study.
The entire ACTION PMR study dataset is yet to be released, but the company is optimistic that Swoop system images will aid in the overall care and management of patients with symptoms of acute cerebral ischemic disease.
Image Source: Zacks Investment Research
Industry Prospects
Per a Precedence Research report, the global portable magnetic resonance imaging (MRI) market size was valued at $3.7 billion in 2022 and is expected to grow to more than $6.3 billion by 2032, at a CAGR of 5.46%. Primary factors responsible for market expansion include an increase in chronic diseases brought on by a preference for home healthcare, changing lifestyles and an increase in the population of senior citizens. Additionally, one of the major drivers of market expansion is the rising demand for wireless medical devices and wearable electronics.
The latest publication regarding the Swoop system’s reliability for critical stroke treatment turns out to be in favor of the company as per market growth.
Other Recent Developments
Earlier this month, Hyperfine announced that it has signed agreements with experienced and accomplished distributors in Germany, Austria, Switzerland and key Nordic markets for its Swoop system. With this recent addition of distributors and the previously appointed distributors in France, the United Kingdom and Italy, the company aims at commercial expansion of the Swoop system into 12 European countries.
In May 2024, HYPR announced a distribution agreement with Radiosurgery Global, Ltd. to develop the market in India. Per the agreement, more than 69,000 public and private hospitals across India will have access to the Swoop system. The system will provide clinicians with unprecedented diagnostic imaging capabilities, even in the most remote areas.
Price Performance
Year to date, shares of HYPR have lost 5.4% against the industry’s 4.3% growth.
Zacks Rank and Key Picks
Hyperfine currently carries a Zacks Rank #3 (Hold).
The Hims & Hers Heath stock has surged 151% in the past year. Estimates for the company’s earnings have moved north 11.1% to 20 cents per share for 2024 in the past 30 days.
HIMS’ earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. In the last reported quarter, it posted an earnings surprise of a staggering 150%.
Estimates for Azenta’s 2024 EPS have remained unchanged at 30 cents in the past 30 days. Shares of the company have risen 18.7% in the past year against the industry’s 26% decline.
AZTA’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 627.78%.
Estimates for Haemonetics’ 2024 EPS have increased 2.4% to $4.57 in the past 60 days. In the past year, shares of HAE have risen 2.1% against the industry’s 0.8% decline.
In the last reported quarter, HAE delivered an earnings surprise of 2.27%. The company has a trailing four-quarter average earnings surprise of 13.24%.
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Hyperfine (HYPR) to Release ACTION PMR Study Data for Swoop
Hyperfine, Inc. (HYPR - Free Report) recently announced the results from a multi-site observational study, showing the importance of using Swoop system images to quickly assess stroke patients and help guide physicians in making critical treatment decisions. The study, set to be published in August 2024, includes a subset of the Acute Ischemic Stroke Detection with Portable MR (ACTION PMR) study data.
The study shows evidence that the Swoop system is a reliable tool for enabling critical stroke treatment choices in urgent care settings.
More on the ACTION PMR Study
The ACTION PMR study is a prospective, international, multi-site observational study, aimed at examining the integration of brain imaging with the portable Swoop system into the stroke diagnosis and treatment workflow.
ACTION PMR has enrolled more than 100 patients at four institutions and consists of a series of investigator-sponsored studies. The initial 100 patients allow for a direct comparison of stroke detection between ultra-low-field Magnetic resonance imaging (MRI), conventional high-field MRI, and computed tomography (CT) as a means to assess the capability of stroke detection of the Swoop system.
The study will continue into a workflow phase starting later this year, evaluating the ease of access and versatility of using the Swoop system in emergency departments and stroke centers within hospital networks.
More on the News
The study is named "Diffusion-Weighted Imaging and Fluid-Attenuated Inversion Recovery Mismatch on Portable, Low-Field Magnetic Resonance Imaging Among Acute Stroke Patients”. It will be published in the August issue of the Annals of Neurology. It included 71 patients and was conducted by a team from several institutions, including Massachusetts General Hospital and the University at Buffalo, two of the centers in the ACTION PMR study.
The entire ACTION PMR study dataset is yet to be released, but the company is optimistic that Swoop system images will aid in the overall care and management of patients with symptoms of acute cerebral ischemic disease.
Image Source: Zacks Investment Research
Industry Prospects
Per a Precedence Research report, the global portable magnetic resonance imaging (MRI) market size was valued at $3.7 billion in 2022 and is expected to grow to more than $6.3 billion by 2032, at a CAGR of 5.46%. Primary factors responsible for market expansion include an increase in chronic diseases brought on by a preference for home healthcare, changing lifestyles and an increase in the population of senior citizens. Additionally, one of the major drivers of market expansion is the rising demand for wireless medical devices and wearable electronics.
The latest publication regarding the Swoop system’s reliability for critical stroke treatment turns out to be in favor of the company as per market growth.
Other Recent Developments
Earlier this month, Hyperfine announced that it has signed agreements with experienced and accomplished distributors in Germany, Austria, Switzerland and key Nordic markets for its Swoop system. With this recent addition of distributors and the previously appointed distributors in France, the United Kingdom and Italy, the company aims at commercial expansion of the Swoop system into 12 European countries.
In May 2024, HYPR announced a distribution agreement with Radiosurgery Global, Ltd. to develop the market in India. Per the agreement, more than 69,000 public and private hospitals across India will have access to the Swoop system. The system will provide clinicians with unprecedented diagnostic imaging capabilities, even in the most remote areas.
Price Performance
Year to date, shares of HYPR have lost 5.4% against the industry’s 4.3% growth.
Zacks Rank and Key Picks
Hyperfine currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Hims & Hers Health, Inc. (HIMS - Free Report) , Azenta, Inc. (AZTA - Free Report) and Haemonetics (HAE - Free Report) . While Hims & Hers Health and Azenta currently sport a Zacks Rank #1 (Strong Buy) each, Haemonetics carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Hims & Hers Heath stock has surged 151% in the past year. Estimates for the company’s earnings have moved north 11.1% to 20 cents per share for 2024 in the past 30 days.
HIMS’ earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. In the last reported quarter, it posted an earnings surprise of a staggering 150%.
Estimates for Azenta’s 2024 EPS have remained unchanged at 30 cents in the past 30 days. Shares of the company have risen 18.7% in the past year against the industry’s 26% decline.
AZTA’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 627.78%.
Estimates for Haemonetics’ 2024 EPS have increased 2.4% to $4.57 in the past 60 days. In the past year, shares of HAE have risen 2.1% against the industry’s 0.8% decline.
In the last reported quarter, HAE delivered an earnings surprise of 2.27%. The company has a trailing four-quarter average earnings surprise of 13.24%.