Voyager Therapeutics (VYGR) Surges 11.1%: Is This an Indication of Further Gains?
Voyager Therapeutics VYGR shares rallied 11.1% in the last trading session to close at $7.71. 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 10% loss over the past four weeks.
The surge in the stock price is likely to be an outcome of the positive momentum built around the company's pipeline. The company is developing early-stage programs in gene therapy and neurology. Voyager will report its first-quarter 2023 earnings on May 9, before market opens.
This gene therapy company is expected to post quarterly earnings of $1.68 per share in its upcoming report, which represents a year-over-year change of +400%. Revenues are expected to be $99.33 million, up 14950% 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, Legend Biotech Corporation Sponsored ADR LEGN, finished the last trading session 1% higher at $66.32. LEGN has returned 41.8% over the past month.
For Legend Biotech Corporation Sponsored ADR , the consensus EPS estimate for the upcoming report has changed +10.7% over the past month to -$0.56. This represents a change of -133.3% from what the company reported a year ago. Legend Biotech Corporation Sponsored ADR currently has a Zacks Rank of #3 (Hold).
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Voyager Therapeutics, Inc. (VYGR) : Free Stock Analysis Report
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