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CRISPR Therapeutics AG (CRSP) Soars 16.3%: Is Further Upside Left in the Stock?
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CRISPR Therapeutics AG (CRSP - Free Report) shares soared 16.3% in the last trading session to close at $50.56. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.2% loss over the past four weeks.
Share price rose after an independent non-government drug pricing group announced that it expects the company’s exa-cel gene-therapy for sickle cell disease could be priced below $1.9 million to be cost effective. Earlier this month, the company announced that it has completed a rolling biologics license application (BLA) for exa-cel in sickle-cell and thalassemia indications. If the BLA is approved, exa-cel will be the first therapy based on Nobel Prize winning CRISPR technology.
This company is expected to post quarterly loss of $1.67 per share in its upcoming report, which represents a year-over-year change of +28%. Revenues are expected to be $37.61 million, up 3901.5% 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 CRISPR Therapeutics AG, 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 CRSP going forward to see if this recent jump can turn into more strength down the road.
CRISPR Therapeutics AG is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, AnaptysBio, Inc. (ANAB - Free Report) , finished the last trading session 3.2% higher at $21.80. ANAB has returned -8% over the past month.
For AnaptysBio, Inc., the consensus EPS estimate for the upcoming report has changed +2.1% over the past month to -$1.03. This represents a change of +21.4% from what the company reported a year ago. AnaptysBio, Inc. currently has a Zacks Rank of #3 (Hold).
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CRISPR Therapeutics AG (CRSP) Soars 16.3%: Is Further Upside Left in the Stock?
CRISPR Therapeutics AG (CRSP - Free Report) shares soared 16.3% in the last trading session to close at $50.56. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.2% loss over the past four weeks.
Share price rose after an independent non-government drug pricing group announced that it expects the company’s exa-cel gene-therapy for sickle cell disease could be priced below $1.9 million to be cost effective. Earlier this month, the company announced that it has completed a rolling biologics license application (BLA) for exa-cel in sickle-cell and thalassemia indications. If the BLA is approved, exa-cel will be the first therapy based on Nobel Prize winning CRISPR technology.
This company is expected to post quarterly loss of $1.67 per share in its upcoming report, which represents a year-over-year change of +28%. Revenues are expected to be $37.61 million, up 3901.5% 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 CRISPR Therapeutics AG, 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 CRSP 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 >>>>
CRISPR Therapeutics AG is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, AnaptysBio, Inc. (ANAB - Free Report) , finished the last trading session 3.2% higher at $21.80. ANAB has returned -8% over the past month.
For AnaptysBio, Inc., the consensus EPS estimate for the upcoming report has changed +2.1% over the past month to -$1.03. This represents a change of +21.4% from what the company reported a year ago. AnaptysBio, Inc. currently has a Zacks Rank of #3 (Hold).