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Stoke Therapeutics (STOK) Surges 11.7%: Is This an Indication of Further Gains?
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Stoke Therapeutics, Inc. (STOK - Free Report) shares soared 11.7% in the last trading session to close at $30.5. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 23.7% gain over the past four weeks.
The price rise can be attributed to growing investor confidence related to Stoke Therapeutics’ efforts in developing lead candidate, zorevunersen, as a first-in-class potential disease-modifying therapy for Dravet syndrome. Earlier this week, the company appointed Ian F. Smith as its new chief executive officer.
This company is expected to post quarterly loss of $0.56 per share in its upcoming report, which represents a year-over-year change of -19.2%. Revenues are expected to be $5.7 million, up 16.6% 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, 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 STOK going forward to see if this recent jump can turn into more strength down the road.
Stoke Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Janux Therapeutics, Inc. (JANX - Free Report) , closed the last trading session 6.7% higher at $24.2. Over the past month, JANX has returned -4.6%.
Janux Therapeutics' consensus EPS estimate for the upcoming report has changed +0.1% over the past month to -$0.6. Compared to the company's year-ago EPS, this represents a change of -17.7%. Janux Therapeutics currently boasts a Zacks Rank of #3 (Hold).
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Stoke Therapeutics (STOK) Surges 11.7%: Is This an Indication of Further Gains?
Stoke Therapeutics, Inc. (STOK - Free Report) shares soared 11.7% in the last trading session to close at $30.5. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 23.7% gain over the past four weeks.
The price rise can be attributed to growing investor confidence related to Stoke Therapeutics’ efforts in developing lead candidate, zorevunersen, as a first-in-class potential disease-modifying therapy for Dravet syndrome. Earlier this week, the company appointed Ian F. Smith as its new chief executive officer.
This company is expected to post quarterly loss of $0.56 per share in its upcoming report, which represents a year-over-year change of -19.2%. Revenues are expected to be $5.7 million, up 16.6% 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, 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 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 belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Janux Therapeutics, Inc. (JANX - Free Report) , closed the last trading session 6.7% higher at $24.2. Over the past month, JANX has returned -4.6%.
Janux Therapeutics' consensus EPS estimate for the upcoming report has changed +0.1% over the past month to -$0.6. Compared to the company's year-ago EPS, this represents a change of -17.7%. Janux Therapeutics currently boasts a Zacks Rank of #3 (Hold).