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HYPR Achieves Positive Swoop System Data for ECMO: Stock to Rise?
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Hyperfine, Inc. (HYPR - Free Report) recently announced a publication by investigators at Johns Hopkins Hospital and the University of Texas-Houston on using the Swoop system for patients on extracorporeal membrane oxygenation (ECMO) support.
The study is titled “Clinical Use of Bedside Portable Ultra-Low-Field Brain Magnetic Resonance Imaging in Patients on Extracorporeal Membrane Oxygenation: Results From the Multicenter SAFE MRI ECMO Study.” It was published in the September issue of Circulation.
HYPR’s Likely Stock Trend Following the News
Subsequent to the news, the share price of HYPR moved south 5.6% to $1.02 yesterday. Earlier, the company announced favorable interim data in support of the Swoop Portable magnetic resonance (MR) imaging for acute stroke diagnosis. Moreover, Hyperfine is gaining a high level of synergies from the market adoption of its Swoop system. Hence, we expect the latest publication for Swoop on ECMO support to motivate market sentiment in favor of HYPR in the upcoming days.
HYPR currently has a market capitalization of $75.5 million. The company has a trailing four-quarter average earnings surprise of 2.94%.
About Hyperfine’s Swoop System
The Swoop Portable MR Imaging system is Food and Drug Administration (“FDA”) cleared for brain imaging of patients of all ages. It is a portable, ultra-low-field magnetic resonance imaging device for producing images that display the internal structure of the head where full diagnostic examination is not clinically practical.
Significance of the Study From HYPR’s ViewPoint
The use of ECMO has dramatically increased over the past decade but it carries an elevated risk of acute brain injury (ABI). Also, ABI substantially increases the risk of mortality. The inability to conduct timely neuroimaging on ECMO patients is a significant barrier to effectively detecting and treating ABI. The prospective observational study evaluated the safety of using an ultra-low-field portable brain MRI on patients in cardiac ICUs undergoing ECMO and investigated the frequency of ABI.
The study highlighted the value of the Swoop system in clinical situations where conventional magnetic resonance imaging (MRI) is not accessible. The ability to perform safe, bedside MRI neuroimaging with the company’s ultra-low-field portable system provides clinicians with real-time insights into a patient’s acute brain injury state. The system has the potential to improve patient outcomes by enabling earlier interventions in high-risk settings.
Hyperfine suggests the safety of ECMO systems when used within the Swoop system’s 5 gauss line.
Industry Prospects Favor Hyperfine
According to a Future Market Insights (FMI) report, the global portable MRI market was valued at $2.7 billion and is projected to increase from $2.8 billion in 2023 to $5.4 billion in 2033, at a compound annual growth rate of 6.7%.
Image Source: Zacks Investment Research
Key factors influencing 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.
HYPR’s Price Performance
Year to date, shares of HYPR have lost 9% against the industry’s 9.8% growth.
Estimates for TransMedics’ 2024 earnings per share (EPS) 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, it 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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HYPR Achieves Positive Swoop System Data for ECMO: Stock to Rise?
Hyperfine, Inc. (HYPR - Free Report) recently announced a publication by investigators at Johns Hopkins Hospital and the University of Texas-Houston on using the Swoop system for patients on extracorporeal membrane oxygenation (ECMO) support.
The study is titled “Clinical Use of Bedside Portable Ultra-Low-Field Brain Magnetic Resonance Imaging in Patients on Extracorporeal Membrane Oxygenation: Results From the Multicenter SAFE MRI ECMO Study.” It was published in the September issue of Circulation.
HYPR’s Likely Stock Trend Following the News
Subsequent to the news, the share price of HYPR moved south 5.6% to $1.02 yesterday. Earlier, the company announced favorable interim data in support of the Swoop Portable magnetic resonance (MR) imaging for acute stroke diagnosis. Moreover, Hyperfine is gaining a high level of synergies from the market adoption of its Swoop system. Hence, we expect the latest publication for Swoop on ECMO support to motivate market sentiment in favor of HYPR in the upcoming days.
HYPR currently has a market capitalization of $75.5 million. The company has a trailing four-quarter average earnings surprise of 2.94%.
About Hyperfine’s Swoop System
The Swoop Portable MR Imaging system is Food and Drug Administration (“FDA”) cleared for brain imaging of patients of all ages. It is a portable, ultra-low-field magnetic resonance imaging device for producing images that display the internal structure of the head where full diagnostic examination is not clinically practical.
Significance of the Study From HYPR’s ViewPoint
The use of ECMO has dramatically increased over the past decade but it carries an elevated risk of acute brain injury (ABI). Also, ABI substantially increases the risk of mortality. The inability to conduct timely neuroimaging on ECMO patients is a significant barrier to effectively detecting and treating ABI. The prospective observational study evaluated the safety of using an ultra-low-field portable brain MRI on patients in cardiac ICUs undergoing ECMO and investigated the frequency of ABI.
The study highlighted the value of the Swoop system in clinical situations where conventional magnetic resonance imaging (MRI) is not accessible. The ability to perform safe, bedside MRI neuroimaging with the company’s ultra-low-field portable system provides clinicians with real-time insights into a patient’s acute brain injury state. The system has the potential to improve patient outcomes by enabling earlier interventions in high-risk settings.
Hyperfine suggests the safety of ECMO systems when used within the Swoop system’s 5 gauss line.
Industry Prospects Favor Hyperfine
According to a Future Market Insights (FMI) report, the global portable MRI market was valued at $2.7 billion and is projected to increase from $2.8 billion in 2023 to $5.4 billion in 2033, at a compound annual growth rate of 6.7%.
Image Source: Zacks Investment Research
Key factors influencing 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.
HYPR’s Price Performance
Year to date, shares of HYPR have lost 9% against the industry’s 9.8% growth.
HYPR’s 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 (EPS) 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, it delivered an earnings surprise of 25.81%. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 26.81%.