Strength Seen in Voyager Therapeutics (VYGR): Can Its 17.5% Jump Turn into More Strength?
Voyager Therapeutics (VYGR) shares rallied 17.5% in the last trading session to close at $7.04. 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 5.5% 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 evaluating its anti-tau antibody, VY7523 (formerly VY-TAU01), in an early-stage study for Alzheimer’s disease. Apart from VY7523, the company has several other pre-clinical candidates being studied for several neurodegenerative indications, including Parkinson’s disease, Alzheimer’s disease, Friedreich’s Ataxia 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 bigwigs, AstraZeneca and Novartis, which is also encouraging.
This gene therapy company is expected to post quarterly loss of $0.52 per share in its upcoming report, which represents a year-over-year change of +11.9%. Revenues are expected to be $9.63 million, up 108.8% 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 part of the Zacks Medical - Biomedical and Genetics industry. Denali Therapeutics Inc. (DNLI), another stock in the same industry, closed the last trading session 1.5% higher at $28.63. DNLI has returned 11.8% in the past month.
Denali Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.61. Compared to the company's year-ago EPS, this represents a change of +15.3%. Denali Therapeutics currently boasts a Zacks Rank of #3 (Hold).
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Voyager Therapeutics, Inc. (VYGR) : Free Stock Analysis Report
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