Stoke Therapeutics, Inc. (STOK) Stock Jumps 25.5%: Will It Continue to Soar?
Stoke Therapeutics, Inc. (STOK) shares soared 25.5% in the last trading session to close at $5.17. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 17.4% loss over the past four weeks.
Last month, the company outlined key strategic priorities related to its pipeline candidates and certain anticipated milestones that it plans to achieve in 2024. This might have driven the share price higher.
This company is expected to post quarterly loss of $0.62 per share in its upcoming report, which represents a year-over-year change of +4.6%. Revenues are expected to be $3.7 million, up 13.2% 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 Stoke Therapeutics, Inc., 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 #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Stoke Therapeutics, Inc. is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Anika Therapeutics (ANIK), finished the last trading session 1.2% higher at $23.59. ANIK has returned 6.2% over the past month.
Anika's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.26. Compared to the company's year-ago EPS, this represents a change of +23.5%. Anika currently boasts a Zacks Rank of #3 (Hold).
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