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Ocular Therapeutix (OCUL) Moves 35.1% Higher: Will This Strength Last?
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Ocular Therapeutix (OCUL - Free Report) shares ended the last trading session 35.1% higher at $5.23. 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 3.3% loss over the past four weeks.
Share price rose after Ocular Therapeutix reported positive interim 10-month data from an early-stage study evaluating its investigational tyrosine kinase inhibitor OTX-TKI for treatment of wet age-related macular degeneration (wet AMD). The interim results exhibited that subjects treated with a single OTX-TKI implant demonstrated stable and sustained best corrected visual acuity and central subfield thickness. In fact, the data reported by the company was comparable with the aflibercept arm. Aflibercept is marketed under the trade name Eylea.
This biotechnology company is expected to post quarterly loss of $0.25 per share in its upcoming report, which represents a year-over-year change of -8.7%. Revenues are expected to be $13.6 million, up 10.5% 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 Ocular Therapeutix, 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 OCUL going forward to see if this recent jump can turn into more strength down the road.
Ocular Therapeutix is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, Impel Pharmaceuticals Inc. , finished the last trading session 14.8% lower at $2.18. IMPL has returned -26.9% over the past month.
For Impel Pharmaceuticals Inc., the consensus EPS estimate for the upcoming report has changed -1% over the past month to -$1.04. This represents a change of +2.8% from what the company reported a year ago. Impel Pharmaceuticals Inc. currently has a Zacks Rank of #4 (Sell).
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Ocular Therapeutix (OCUL) Moves 35.1% Higher: Will This Strength Last?
Ocular Therapeutix (OCUL - Free Report) shares ended the last trading session 35.1% higher at $5.23. 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 3.3% loss over the past four weeks.
Share price rose after Ocular Therapeutix reported positive interim 10-month data from an early-stage study evaluating its investigational tyrosine kinase inhibitor OTX-TKI for treatment of wet age-related macular degeneration (wet AMD). The interim results exhibited that subjects treated with a single OTX-TKI implant demonstrated stable and sustained best corrected visual acuity and central subfield thickness. In fact, the data reported by the company was comparable with the aflibercept arm. Aflibercept is marketed under the trade name Eylea.
This biotechnology company is expected to post quarterly loss of $0.25 per share in its upcoming report, which represents a year-over-year change of -8.7%. Revenues are expected to be $13.6 million, up 10.5% 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 Ocular Therapeutix, 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 OCUL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). 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, Impel Pharmaceuticals Inc. , finished the last trading session 14.8% lower at $2.18. IMPL has returned -26.9% over the past month.
For Impel Pharmaceuticals Inc., the consensus EPS estimate for the upcoming report has changed -1% over the past month to -$1.04. This represents a change of +2.8% from what the company reported a year ago. Impel Pharmaceuticals Inc. currently has a Zacks Rank of #4 (Sell).