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CRISPR Therapeutics (CRSP) Moves 9.2% Higher: Will This Strength Last?
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CRISPR Therapeutics AG (CRSP - Free Report) shares ended the last trading session 9.2% higher at $62.75. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7% loss over the past four weeks.
This rise in share price is attributable to positive investor expectations for the company’s sole-marketed product Casgevy which received marketing approval in late 2023/early 2024. Marketed in partnership with Vertex Pharmaceuticals, Casgevy is the first FDA-approved gene therapy based on CRISPR technology. It is approved to treat two debilitating blood disorders, sickle cell disease (SCD) and transfusion-dependent beta-thalassemia (TDT). We expect management to start recording revenues from Casgevy sales in the second half of 2024.
This company is expected to post quarterly loss of $1.37 per share in its upcoming report, which represents a year-over-year change of -39.8%. Revenues are expected to be $8.39 million, down 88% 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 CRISPR Therapeutics, 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 CRSP going forward to see if this recent jump can turn into more strength down the road.
CRISPR Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Axsome Therapeutics (AXSM - Free Report) , closed the last trading session 2.6% higher at $84.95. Over the past month, AXSM has returned 9%.
Axsome's consensus EPS estimate for the upcoming report has changed -0.3% over the past month to -$1.30. Compared to the company's year-ago EPS, this represents a change of -30%. Axsome currently boasts a Zacks Rank of #3 (Hold).
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CRISPR Therapeutics (CRSP) Moves 9.2% Higher: Will This Strength Last?
CRISPR Therapeutics AG (CRSP - Free Report) shares ended the last trading session 9.2% higher at $62.75. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7% loss over the past four weeks.
This rise in share price is attributable to positive investor expectations for the company’s sole-marketed product Casgevy which received marketing approval in late 2023/early 2024. Marketed in partnership with Vertex Pharmaceuticals, Casgevy is the first FDA-approved gene therapy based on CRISPR technology. It is approved to treat two debilitating blood disorders, sickle cell disease (SCD) and transfusion-dependent beta-thalassemia (TDT). We expect management to start recording revenues from Casgevy sales in the second half of 2024.
This company is expected to post quarterly loss of $1.37 per share in its upcoming report, which represents a year-over-year change of -39.8%. Revenues are expected to be $8.39 million, down 88% 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 CRISPR Therapeutics, 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 CRSP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
CRISPR Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Axsome Therapeutics (AXSM - Free Report) , closed the last trading session 2.6% higher at $84.95. Over the past month, AXSM has returned 9%.
Axsome's consensus EPS estimate for the upcoming report has changed -0.3% over the past month to -$1.30. Compared to the company's year-ago EPS, this represents a change of -30%. Axsome currently boasts a Zacks Rank of #3 (Hold).