ClearPoint Neuro, Inc. (CLPT Quick QuoteCLPT - Free Report) shares rallied 9.8% in the last trading session to close at $20.15. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 8.1% loss over the past four weeks.

The stock rallied for the second consecutive day on optimism surrounding the company’s recent joint venture (JV) with Blackrock Neurotech to develop an automated surgical solution for implanting Brain Computer Interfaces (BCIs) into patients with a wide range of neurological disorders, including paralysis, ALS, blindness and hearing loss. The JV is intended to leverage ClearPoint’s platform and software. It represents a combined total addressable market of more than $1 billion annually for both BCI implants and neuro-navigational systems.

This company is expected to post quarterly loss of $0.14 per share in its upcoming report, which represents a year-over-year change of -27.3%. Revenues are expected to be $3.47 million, up 39.9% 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 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 >>>>