Sarepta Therapeutics SRPT shares ended the last trading session 30.1% higher at $160.72. 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 2.9% loss over the past four weeks.

This rise in share price came after Sarepta announced that the FDA approved the expanded use of its Duchenne muscular dystrophy (DMD) gene therapy Elevidys. The gene therapy is now approved to treat all DMD patients aged four years and older. While the FDA granted traditional approval for treating ambulatory DMD patients (those who can still walk), it has granted accelerated approval for non-ambulatory patients.

The label expansion is mainly supported by data from the phase III EMBARK study, announced last October. Though the study failed to achieve its primary endpoint, it achieved statistical significance on all pre-specified key secondary endpoints, indicating that treatment with Elevidys modifies the course of DMD indication.

Elevidys was initially approved by the FDA last year under the accelerated pathway to treat ambulatory pediatric patients aged between four and five years with DMD. Following the FDA nod, Elevidys was the first-ever approved gene therapy for DMD.

This biopharmaceutical company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of +81.5%. Revenues are expected to be $393.84 million, up 50.8% 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 Sarepta Therapeutics, the consensus EPS estimate for the quarter has been revised 2% 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 SRPT 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 >>>>

Sarepta Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Sangamo Therapeutics SGMO, closed the last trading session 1.3% lower at $0.44. Over the past month, SGMO has returned -27.1%.

Sangamo's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.15. Compared to the company's year-ago EPS, this represents a change of +59.5%. Sangamo currently boasts a Zacks Rank of #3 (Hold).