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ClearPoint Neuro, Inc. (CLPT) Surges 12.8%: Is This an Indication of Further Gains?
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ClearPoint Neuro, Inc. (CLPT - Free Report) shares ended the last trading session 12.8% higher at $22.59. 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 22.4% loss over the past four weeks.
ClearPoint Neuro recorded solid price appreciation courtesy of its encouraging fourth-quarter 2020 results. Notably, the company’s fourth-quarter and full-year 2020 sales improved 16% and 14%, respectively, on a year-over-year basis. Moreover, the price appreciation was aided by a significant increase (109%) in biologics and drug delivery revenues. Market is also upbeat about the company’s recently announced license and development agreement with Philips related to ClearPoint Neuro’s Maestro Brain Model, which can serve as the foundation of being a navigational engine across its product portfolio.
Price and Consensus
This company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents a year-over-year change of -15.4%. Revenues are expected to be $3.35 million, up 7.4% 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 ClearPoint Neuro, Inc., 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 CLPT going forward to see if this recent jump can turn into more strength down the road.
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ClearPoint Neuro, Inc. (CLPT) Surges 12.8%: Is This an Indication of Further Gains?
ClearPoint Neuro, Inc. (CLPT - Free Report) shares ended the last trading session 12.8% higher at $22.59. 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 22.4% loss over the past four weeks.
ClearPoint Neuro recorded solid price appreciation courtesy of its encouraging fourth-quarter 2020 results. Notably, the company’s fourth-quarter and full-year 2020 sales improved 16% and 14%, respectively, on a year-over-year basis. Moreover, the price appreciation was aided by a significant increase (109%) in biologics and drug delivery revenues. Market is also upbeat about the company’s recently announced license and development agreement with Philips related to ClearPoint Neuro’s Maestro Brain Model, which can serve as the foundation of being a navigational engine across its product portfolio.
Price and Consensus
This company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents a year-over-year change of -15.4%. Revenues are expected to be $3.35 million, up 7.4% 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 ClearPoint Neuro, Inc., 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 CLPT 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 >>>>