EyePoint (EYPT) shares soared 15.2% in the last trading session to close at $14.91. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 14.2% loss over the past four weeks.
EyePoint Pharmaceuticals’ pricesurge is likely tied to the company’s positive developments surrounding its lead candidate, Duravyu. Investor enthusiasm was driven by encouraging clinical progress, particularly around late-stage trial safety and advancement milestones, which reduced regulatory uncertainty and strengthened confidence in the drug’s potential in treating retinal diseases.
This drug delivery technology company is expected to post quarterly loss of $0.78 per share in its upcoming report, which represents a year-over-year change of -21.9%. Revenues are expected to be $0.54 million, down 95.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For EyePoint, 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 EYPT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
EyePoint is part of the Zacks Medical - Biomedical and Genetics industry. Entrada Therapeutics, Inc. (TRDA), another stock in the same industry, closed the last trading session 1.3% higher at $11.02. TRDA has returned -1.1% in the past month.
For Entrada Therapeutics, the consensus EPS estimate for the upcoming report has changed -1.5% over the past month to -$1.32. This represents a change of -4500% from what the company reported a year ago. Entrada Therapeutics currently has a Zacks Rank of #3 (Hold).
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EyePoint, Inc. (EYPT): Free Stock Analysis Report Entrada Therapeutics, Inc. (TRDA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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