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Stoke Therapeutics, Inc. (STOK) Surges 6.3%: Is This an Indication of Further Gains?
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Stoke Therapeutics, Inc. (STOK - Free Report) shares soared 6.3% in the last trading session to close at $13.82. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15% gain over the past four weeks.
The sudden surge in stock price can be attributed to the positive momentum built around the company's pipeline. Stoke is currently evaluating its investigational candidate, STK-001, in several early-to-mid-stage studies, for the treatment of Dravet syndrome in children and adolescents, aged 2 to 18 years. Furthermore, in April 2023, Stoke received authorization to initiate a phase I/II study on a second candidate, STK-002, for the treatment of autosomal dominant optic atrophy, in the UK.
This company is expected to post quarterly loss of $0.65 per share in its upcoming report, which represents a year-over-year change of -3.2%. Revenues are expected to be $4 million, up 23.8% 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 Stoke Therapeutics, Inc., the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on STOK going forward to see if this recent jump can turn into more strength down the road.
Stoke Therapeutics, Inc. is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Sutro Biopharma, Inc. (STRO - Free Report) , finished the last trading session 2.9% higher at $5.25. STRO has returned -4% over the past month.
Sutro Biopharma, Inc.'s consensus EPS estimate for the upcoming report has changed +2.7% over the past month to -$0.72. Compared to the company's year-ago EPS, this represents a change of -30.9%. Sutro Biopharma, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Stoke Therapeutics, Inc. (STOK) Surges 6.3%: Is This an Indication of Further Gains?
Stoke Therapeutics, Inc. (STOK - Free Report) shares soared 6.3% in the last trading session to close at $13.82. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15% gain over the past four weeks.
The sudden surge in stock price can be attributed to the positive momentum built around the company's pipeline. Stoke is currently evaluating its investigational candidate, STK-001, in several early-to-mid-stage studies, for the treatment of Dravet syndrome in children and adolescents, aged 2 to 18 years. Furthermore, in April 2023, Stoke received authorization to initiate a phase I/II study on a second candidate, STK-002, for the treatment of autosomal dominant optic atrophy, in the UK.
This company is expected to post quarterly loss of $0.65 per share in its upcoming report, which represents a year-over-year change of -3.2%. Revenues are expected to be $4 million, up 23.8% 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 Stoke Therapeutics, Inc., the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on STOK 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 >>>>
Stoke Therapeutics, Inc. is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Sutro Biopharma, Inc. (STRO - Free Report) , finished the last trading session 2.9% higher at $5.25. STRO has returned -4% over the past month.
Sutro Biopharma, Inc.'s consensus EPS estimate for the upcoming report has changed +2.7% over the past month to -$0.72. Compared to the company's year-ago EPS, this represents a change of -30.9%. Sutro Biopharma, Inc. currently boasts a Zacks Rank of #3 (Hold).