ClearPoint Neuro, Inc. CLPT shares rallied 22.5% in the last trading session to close at $18.42. 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 2.8% gain over the past four weeks.
ClearPoint Neuro scored a strong price increase, on investors’ optimism following reports of Lake Street Capital Markets raising the stock’s price target to $30.00 from $17.00, while reiterating a Buy rating. The move was attributed to the company’s strong core performance and the growing potential of its partner business.
This company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents a year-over-year change of +21.1%. Revenues are expected to be $8.65 million, up 27% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For ClearPoint Neuro, 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 CLPT 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 >>>>
ClearPoint Neuro is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, DexCom DXCM, finished the last trading session 2.3% higher at $86.32. DXCM has returned 6.1% over the past month.
DexCom's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.51. Compared to the company's year-ago EPS, this represents a change of +2%. DexCom currently boasts a Zacks Rank of #3 (Hold).
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