EyePoint Pharmaceuticals (EYPT) shares soared 21.6% in the last trading session to close at $9.91. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 3.8% gain over the past four weeks.
The stock rallied on optimism over the 12-month data that the company announced from its phase I DAVIO study evaluating EYP-1901, an anti-VEGF therapy targeting wet age-related macular degeneration or wet AMD as a potential every-six-month treatment. Data from the same demonstrated strong safety and efficacy for EYP-1901 as a potential six-month maintenance treatment for previously treated wet AMD.
This drug delivery technology company is expected to post quarterly loss of $0.57 per share in its upcoming report, which represents a year-over-year change of -62.9%. Revenues are expected to be $11.27 million, up 25.1% 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 EyePoint Pharmaceuticals, 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 EYPT 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 >>>>
EyePoint Pharmaceuticals is a member of the Zacks Medical – Biomedical and Genetics industry. One other stock in the same industry, CRISPR Therapeutics AG (CRSP), finished the last trading session 1.8% higher at $83.39. CRSP has returned 26.7% over the past month.
For CRISPR Therapeutics AG
, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.23. This represents a change of -123.6% from what the company reported a year ago. CRISPR Therapeutics AG currently has a Zacks Rank of #3 (Hold).
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