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Favorable Data on Swoop Portable MRI Likely to Support Hyperfine Stock

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Hyperfine, Inc. (HYPR - Free Report) , a pioneer in health technology, recently announced promising interim data on the Swoop Portable magnetic resonance (MR) Imaging for acute stroke diagnosis.

These findings, presented at the 2024 European Society of Neuroradiology (ESNR) Annual Meeting, underline how the portable ultra-low-field MRI could revolutionize stroke care, particularly in emergency department settings.

HYPR's Likely Stock Trend Following the News

Following the news, shares of HYPR rose 1.5% at yesterday’s close. Previously, the company gained FDA clearance for the Swoop Portable MR Imaging system for brain imaging of patients of all ages. Hyperfine is already experiencing strong customer acceptance following this FDA clearance. The latest favorable interim findings on the Swoop system are expected to further motivate market sentiment in favor of HYPR.

HYPR currently has a market capitalization of $75.5 million. The company has a trailing four-quarter average earnings surprise of 2.94%.

HYPR Progresses in Time-Sensitive Stroke Diagnosis

One of the most significant aspects of the interim findings is the dramatic reduction in time-to-scan with the Swoop system. Compared to conventional MRI, which takes an average of 27.7 hours, the Swoop system operates with a median time-to-scan of just 2.5 hours. In acute stroke care, where every minute counts, this difference is critical. The rapid imaging allows for faster decision-making, potentially leading to earlier interventions that could improve patient outcomes.

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In addition to speed, the Swoop system demonstrated diagnostic performance comparable to head CT and conventional MRI (1.5T), which are the current standards of care. The study's findings reinforce the reliability of ultra-low-field MRI in identifying stroke-related abnormalities. This is a crucial advancement, as the Swoop system can deliver accurate results in situations where access to traditional MRI is limited or impractical.

More on Hyperfine's Interim Data on Swoop

The interim analysis also highlighted a key factor often overlooked in medical technology—patient experience. Nearly all patients reported a positive experience with the Swoop system, which is essential for its adoption in busy clinical environments. Furthermore, its portability and usability make it a strong candidate for hospitals and clinics lacking dedicated MRI infrastructure, particularly in underserved regions.

In this regard, HYPR emphasized that the Swoop system is generating strong excitement within the European neuroradiology community. With its potential to streamline acute stroke diagnosis and treatment, the Swoop Portable MRI is poised to play a pivotal role in expanding access to timely stroke care worldwide.

Market Prospect in Favor of Hyperfine

According to a DataM Intelligence report, the global Interventional Neuroradiology market was worth $1.9 billion in 2022 and is expected to reach $ 2.9 billion by 2030, at a CAGR of 5.8% during the forecast period.

HYPR Share Comparison

Over the past three months, shares of Hyperfine grew 8.9% compared with the industry’s 3.3% rise.

Zacks Rank and Key Picks

HYPR currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the broader medical space are TransMedics Group (TMDX - Free Report) , AxoGen (AXGN - Free Report) and OrthoPediatrics (KIDS - Free Report) . While TransMedics sports a Zacks Rank #1 (Strong Buy) at present, AxoGen and OrthoPediatrics carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

Estimates for TransMedics’ 2024 earnings per share have moved up 2.5% to $1.23 in the past 30 days. Shares of the company have soared 156.5% in the past year compared with the industry’s 17.5% growth. TMDX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.

Estimates for AxoGen’s 2024 loss per share have remained constant at 1 cent in the past 30 days. Shares of the company have surged 165.9% in the past year compared with the industry’s 17.6% growth. AXGN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 96.5%. In the last reported quarter, it delivered an earnings surprise of 200%.

Estimates for OrthoPediatrics’ 2024 loss per share have declined to 92 cents from 96 cents in the past 30 days. In the past year, shares of KIDS have lost 17.1% against the industry’s 20.8% growth. In the last reported quarter, KIDS delivered an earnings surprise of 25.81%. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 26.81%.


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