Voyager Therapeutics (VYGR) Moves 7.9% Higher: Will This Strength Last?
Voyager Therapeutics (VYGR) shares rallied 7.9% in the last trading session to close at $13.99. 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 6.4% loss over the past four weeks.
The sudden surge in the company's stock price can be attributed to the positive momentum built around its pipeline. Voyager is currently engaged in pre-clinical late-stage research in several neurodegenerative indications, including Parkinson’s disease, Alzheimer’s disease and amyotrophic lateral sclerosis. All pre-clinical studies have predefined targets and biomarkers, to establish proof-of-biology and help in rapid investigational new drug enabling. Moreover, Voyager has licensing agreements with pharma goliaths, Pfizer and Novartis, which is also encouraging.
This gene therapy company is expected to post quarterly loss of $0.59 per share in its upcoming report, which represents a year-over-year change of -18%. Revenues are expected to be $2 million, up 181.7% 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 Voyager 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 VYGR 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 >>>>
Voyager Therapeutics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Bionano Genomics, Inc. (BNGO), finished the last trading session 4.8% lower at $0.68. BNGO has returned 3.7% over the past month.
For Bionano Genomics, Inc. , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.09. This represents a change of +18.2% from what the company reported a year ago. Bionano Genomics, Inc. currently has a Zacks Rank of #2 (Buy).
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