Strength Seen in Stoke Therapeutics (STOK): Can Its 9.4% Jump Turn into More Strength?

Stoke Therapeutics, Inc. (STOK) shares soared 9.4% in the last trading session to close at $12.60. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.5% gain over the past four weeks.Last month, the company achieved alignment with various regulatory agencies across the world related to the design of the phase III EMPEROR study on its pipeline candidate, zorevunersen, for treating Dravet syndrome. Following discussions with the FDA, the European Medicines Agency and Japan’s Pharmaceuticals and Medical Devices Agency, Stoke Therapeutics decided on the protocol for the EMPEROR study, which will evaluate two loading doses of zorevunersen (70mg) followed by two maintenance doses of 45mg for 52 weeks compared with sham in children and adolescents aged two to less than 18 years with Dravet syndrome. The growing optimism related to the development of zorevunersen might have driven the recent share price rally.This company is expected to post quarterly loss of $0.51 per share in its upcoming report, which represents a year-over-year change of +15%. Revenues are expected to be $3.88 million, up 38.4% 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 Stoke Therapeutics, the consensus EPS estimate for the quarter has been revised 2.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Stoke Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Anika Therapeutics (ANIK), closed the last trading session 3.2% higher at $17.84. Over the past month, ANIK has returned 8.6%.Anika's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.09. Compared to the company's year-ago EPS, this represents a change of +102.1%. Anika currently boasts a Zacks Rank of #3 (Hold).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Stoke Therapeutics, Inc. (STOK): Free Stock Analysis Report Anika Therapeutics Inc. (ANIK): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks