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CRISPR Therapeutics AG (CRSP) Surges 12.4%: Is This an Indication of Further Gains?
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CRISPR Therapeutics AG (CRSP - Free Report) shares rallied 12.4% in the last trading session to close at $43.75. 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 9.3% loss over the past four weeks.
The rise in share price came after an FDA advisory committee appeared satisfied with the company’s regulatory filing on gene-therapy exa-cel for treating sickle-cell disease. This likely moves the gene therapy closer to gaining potential marketing approval from the agency. A final decision is expected next month.
This company is expected to post quarterly loss of $1.98 per share in its upcoming report, which represents a year-over-year change of +11.6%. Revenues are expected to be $20.67 million, up 22863.3% 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 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, 2seventy bio, Inc. (TSVT - Free Report) , finished the last trading session 4.5% lower at $2.33. TSVT has returned -39.9% over the past month.
For 2seventy bio, Inc., the consensus EPS estimate for the upcoming report has changed -4.4% over the past month to -$1.31. This represents a change of +25.6% from what the company reported a year ago. 2seventy bio, Inc. currently has a Zacks Rank of #3 (Hold).
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CRISPR Therapeutics AG (CRSP) Surges 12.4%: Is This an Indication of Further Gains?
CRISPR Therapeutics AG (CRSP - Free Report) shares rallied 12.4% in the last trading session to close at $43.75. 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 9.3% loss over the past four weeks.
The rise in share price came after an FDA advisory committee appeared satisfied with the company’s regulatory filing on gene-therapy exa-cel for treating sickle-cell disease. This likely moves the gene therapy closer to gaining potential marketing approval from the agency. A final decision is expected next month.
This company is expected to post quarterly loss of $1.98 per share in its upcoming report, which represents a year-over-year change of +11.6%. Revenues are expected to be $20.67 million, up 22863.3% 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 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, 2seventy bio, Inc. (TSVT - Free Report) , finished the last trading session 4.5% lower at $2.33. TSVT has returned -39.9% over the past month.
For 2seventy bio, Inc., the consensus EPS estimate for the upcoming report has changed -4.4% over the past month to -$1.31. This represents a change of +25.6% from what the company reported a year ago. 2seventy bio, Inc. currently has a Zacks Rank of #3 (Hold).