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Nyxoah SA (NYXH) Stock Jumps 13.2%: Will It Continue to Soar?

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Nyxoah SA (NYXH - Free Report) shares rallied 13.2% in the last trading session to close at $8.81. 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 43.8% loss over the past four weeks.

Nyxoah SA scored a strong price increase on optimism surrounding the recent receipt of FDA’s Investigational Device Exemption (IDE) approval to initiate ACCCESS clinical trial. The trial is intended to assess the effectiveness of the Genio system to treat adult patients having moderate-to-severe Obstructive Sleep Apnea (OSA) and Complete Concentric Collapse (CCC) of the soft palate. Previously, the Genio gained FDA’s Breakthrough Device Designation to treat CCC patients.

This company is expected to post quarterly loss of $0.32 per share in its upcoming report, which represents a year-over-year change of +15.8%. Revenues are expected to be $1.04 million, up 396.7% 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 Nyxoah SA, 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 NYXH 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 >>>>

Nyxoah SA is a member of the Zacks Medical Info Systems industry. One other stock in the same industry, Hims & Hers Health, Inc. (HIMS - Free Report) , finished the last trading session 3.9% lower at $5.38. HIMS has returned 45.5% over the past month.

Hims & Hers Health, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.10. Compared to the company's year-ago EPS, this represents a change of -25%. Hims & Hers Health, Inc. currently boasts a Zacks Rank of #3 (Hold).

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