MeiraGTx Holdings PLC (MGTX) shares ended the last trading session 14.9% higher at $5.33. 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 10.5% gain over the past four weeks.

The stock price rally was observed after the company reported positive topline data from its clinical bridging study of AAV-GAD for treating Parkinson’s disease (PD). Per the data readout, it was observed that treatment with the investigational gene therapy resulted in superior efficacy over sham treatment in PD patients, at week 26. The candidate was also safe and overall well-tolerated. Based on the encouraging data readout from the study, MeiraGTx is currently gearing up to discuss these results with regulatory bodies in the United States, E.U. and Japan to potentially initiate a phase III study that will support the approval of this disease-modifying treatment globally.

This company is expected to post quarterly loss of $0.47 per share in its upcoming report, which represents a year-over-year change of +36.5%. Revenues are expected to be $0.25 million, down 95.1% 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 MeiraGTx, 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 MGTX 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 >>>>

MeiraGTx is part of the Zacks Medical - Biomedical and Genetics industry. Merus N.V. (MRUS), another stock in the same industry, closed the last trading session 1.6% lower at $51.35. MRUS has returned 3.9% in the past month.

For Merus , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.90. This represents a change of -109.3% from what the company reported a year ago. Merus currently has a Zacks Rank of #3 (Hold).

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MeiraGTx Holdings PLC (MGTX) : Free Stock Analysis Report