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MeiraGTx (MGTX) Moves 12.4% Higher: Will This Strength Last?
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MeiraGTx Holdings PLC (MGTX - Free Report) shares ended the last trading session 12.4% higher at $9.26. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.9% gain over the past four weeks.
The price rise can be attributed to growing investor confidence related to the company’s promising late-stage clinical programs, including Parkinson's disease, radiation-induced xerostomia and AIPL1-associated retinal dystrophy. These programs use targeted local delivery of small doses of genetic medicines to treat both inherited and more common conditions with severe unmet need.
This company is expected to post quarterly loss of $0.51 per share in its upcoming report, which represents a year-over-year change of +5.6%. Revenues are expected to be $4.43 million, down 59.4% 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 MeiraGTx, 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 MGTX going forward to see if this recent jump can turn into more strength down the road.
MeiraGTx belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Urogen Pharma (URGN - Free Report) , closed the last trading session 0.8% higher at $18.14. Over the past month, URGN has returned 0%.
For Urogen Pharma, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.7. This represents a change of -27.3% from what the company reported a year ago. Urogen Pharma currently has a Zacks Rank of #3 (Hold).
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MeiraGTx (MGTX) Moves 12.4% Higher: Will This Strength Last?
MeiraGTx Holdings PLC (MGTX - Free Report) shares ended the last trading session 12.4% higher at $9.26. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.9% gain over the past four weeks.
The price rise can be attributed to growing investor confidence related to the company’s promising late-stage clinical programs, including Parkinson's disease, radiation-induced xerostomia and AIPL1-associated retinal dystrophy. These programs use targeted local delivery of small doses of genetic medicines to treat both inherited and more common conditions with severe unmet need.
This company is expected to post quarterly loss of $0.51 per share in its upcoming report, which represents a year-over-year change of +5.6%. Revenues are expected to be $4.43 million, down 59.4% 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 MeiraGTx, 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 MGTX 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 >>>>
MeiraGTx belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Urogen Pharma (URGN - Free Report) , closed the last trading session 0.8% higher at $18.14. Over the past month, URGN has returned 0%.
For Urogen Pharma, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.7. This represents a change of -27.3% from what the company reported a year ago. Urogen Pharma currently has a Zacks Rank of #3 (Hold).