Ocular Therapeutix (OCUL) shares ended the last trading session 8.6% higher at $9.09. 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 14.7% gain over the past four weeks.
The sudden price rise can be attributed to growing investor optimism related to Ocular’s encouraging pipeline updates related to its product candidate Axpaxli, which is being evaluated in late-stage studies for the treatment of patients with wet age-related macular degeneration. The candidate is also being studied for diabetic retinopathy, diabetic macular edema and other retinal diseases.
This biotechnology company is expected to post quarterly loss of $0.35 per share in its upcoming report, which represents a year-over-year change of -45.8%. Revenues are expected to be $13.55 million, down 17.6% 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 Ocular Therapeutix, the consensus EPS estimate for the quarter has been revised 1.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on OCUL 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 >>>>
Ocular Therapeutix is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, Takeda Pharmaceutical Co. (TAK), finished the last trading session 2.5% higher at $15.08. TAK has returned 1% over the past month.
Takeda Pharmaceutical Co.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.47. Compared to the company's year-ago EPS, this represents a change of -16.1%. Takeda Pharmaceutical Co. currently boasts a Zacks Rank of #4 (Sell).
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Ocular Therapeutix, Inc. (OCUL): Free Stock Analysis Report Takeda Pharmaceutical Co. (TAK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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