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Strength Seen in ClearPoint Neuro (CLPT): Can Its 16.9% Jump Turn into More Strength?

Zacks Equity Research
·2 min read

ClearPoint Neuro, Inc. CLPT shares ended the last trading session 16.9% higher at $6.58. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.9% loss over the past four weeks.

ClearPoint Neuro scored a strong price increase, on investors’ optimism surrounding the recent news that its partner company, Aspen Neuroscience, Inc. has used the ClearPoint Neuro Navigation System for all the enrolled patients in the ASPIRO clinical trial. ASPIRO is the first multi-center trial for an autologous neuron replacement therapy for Parkinson’s disease.

This company is expected to post quarterly loss of $0.18 per share in its upcoming report, which represents a year-over-year change of +37.9%. Revenues are expected to be $7.5 million, up 26% 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.

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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 part of the Zacks Medical - Instruments industry. Alphatec ATEC, another stock in the same industry, closed the last trading session 1% higher at $10.84. ATEC has returned 4.7% in the past month.

For Alphatec , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.26. This represents a change of +39.5% from what the company reported a year ago. Alphatec currently has a Zacks Rank of #3 (Hold).

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ClearPoint Neuro, Inc. (CLPT) : Free Stock Analysis Report

Alphatec Holdings, Inc. (ATEC) : Free Stock Analysis Report

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Zacks Investment Research