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Strength Seen in Sarepta Therapeutics (SRPT): Can Its 8.7% Jump Turn into More Strength?
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Sarepta Therapeutics (SRPT - Free Report) shares soared 8.7% in the last trading session to close at $79.97. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 30.2% loss over the past four weeks.
This rise in share price can be attributed to the recovery in Sarepta’s share price after it tanked earlier this week on reports of a patient’s death following treatment with Elevidys, its one-shot gene therapy for Duchenne muscular dystrophy.
This biopharmaceutical company is expected to post quarterly earnings of $2.25 per share in its upcoming report, which represents a year-over-year change of +208.2%. Revenues are expected to be $692.54 million, up 67.5% 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 Sarepta Therapeutics, the consensus EPS estimate for the quarter has been revised 3.8% 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 SRPT going forward to see if this recent jump can turn into more strength down the road.
Sarepta Therapeutics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, MiMedx (MDXG - Free Report) , finished the last trading session 2.2% higher at $8.09. MDXG has returned -3.7% over the past month.
For MiMedx, the consensus EPS estimate for the upcoming report has changed +20% over the past month to $0.06. This represents a change of -14.3% from what the company reported a year ago. MiMedx currently has a Zacks Rank of #4 (Sell).
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Strength Seen in Sarepta Therapeutics (SRPT): Can Its 8.7% Jump Turn into More Strength?
Sarepta Therapeutics (SRPT - Free Report) shares soared 8.7% in the last trading session to close at $79.97. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 30.2% loss over the past four weeks.
This rise in share price can be attributed to the recovery in Sarepta’s share price after it tanked earlier this week on reports of a patient’s death following treatment with Elevidys, its one-shot gene therapy for Duchenne muscular dystrophy.
This biopharmaceutical company is expected to post quarterly earnings of $2.25 per share in its upcoming report, which represents a year-over-year change of +208.2%. Revenues are expected to be $692.54 million, up 67.5% 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 Sarepta Therapeutics, the consensus EPS estimate for the quarter has been revised 3.8% 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 SRPT 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 >>>>
Sarepta Therapeutics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, MiMedx (MDXG - Free Report) , finished the last trading session 2.2% higher at $8.09. MDXG has returned -3.7% over the past month.
For MiMedx, the consensus EPS estimate for the upcoming report has changed +20% over the past month to $0.06. This represents a change of -14.3% from what the company reported a year ago. MiMedx currently has a Zacks Rank of #4 (Sell).