CRISPR Therapeutics AG (CRSP) Moves 6.9% Higher: Will This Strength Last?
CRISPR Therapeutics AG (CRSP) shares rallied 6.9% in the last trading session to close at $84.48. 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 29.9% gain over the past four weeks.
Earlier this week, the company announced that the European Commission has granted conditional marketing authorization to Casgevy for the treatment of sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT) in patients aged 12 years and above. Following the nod, Casgevy became the only genetic therapy to be approved for SCD and TDT patients in the European Union. This might have driven the share price higher.
This company is expected to post quarterly loss of $0.40 per share in its upcoming report, which represents a year-over-year change of +71.6%. Revenues are expected to be $138.09 million, up 1380750% 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 been revised 14.1% 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 CRSP 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 >>>>
CRISPR Therapeutics AG is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Y-mAbs Therapeutics, Inc. (YMAB), finished the last trading session 5.3% higher at $16. YMAB has returned 54.6% over the past month.
For Y-mAbs Therapeutics, Inc. , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.20. This represents a change of -766.7% from what the company reported a year ago. Y-mAbs Therapeutics, Inc. currently has a Zacks Rank of #2 (Buy).
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CRISPR Therapeutics AG (CRSP) : Free Stock Analysis Report
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