Yahoo Finance Hyperfine (HYPR) ACTION PMR Study Targets Better Stroke Care
Hyperfine, Inc. HYPR, the renowned medical device company behind the groundbreaking Swoop system, recently announced a significant stride in its stroke care initiatives. The company has initiated an international, multi-site observational study — ACuTe Ischemic strOke detectioN with Portable MR or ACTION PMR — aimed at integrating the Swoop system into stroke diagnosis and treatment workflow.
Swoop is the world's first FDA-cleared portable magnetic resonance brain imaging system. By forming an advisory board of world-renowned stroke experts, Hyperfine demonstrates its commitment to advancing stroke treatment worldwide.
Improving Stroke Diagnosis and Treatment
The ACTION PMR study focuses on utilizing point-of-care brain imaging to identify strokes and salvageable brain tissue, which can lead to more effective treatments and improved patient outcomes. The American Academy of Neuroradiology recommends MRI scans for diagnosing acute ischemic stroke but the limited availability of MRI scanners near acute care settings is a challenge. Hyperfine's Swoop system addresses this need by providing readily accessible brain imaging solutions.
The study is led by four distinguished investigators, Dr. W. Taylor Kimberly of Massachusetts General Hospital, Dr. Adnan Siddiqui of the University at Buffalo, Dr. Vivien Lee of the Ohio State University Wexner Medical Center and Dr. Keith Muir of the University of Glasgow. Their collective expertise will contribute to refining stroke diagnosis and care, especially for patients who do not immediately qualify for thrombectomy.
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The Role of the Stroke Advisory Board
In addition to the ACTION PMR study, Hyperfine has formed a stroke advisory board. This board will provide valuable insights and experiences to guide the impact and define the role of the Swoop system in acute stroke care.
Market Prospect
The global stroke management market shows promising prospects, driven by various factors. According to a report by Allied Market Research, the market generated $31.7 billion in 2020 and is expected to reach $67.77 billion by 2030, at a compound annual growth rate (CAGR) of 7.8% from 2021 to 2030.
Factors such as increased healthcare awareness, a rise in tobacco users, a growing incidence of diabetes and an expanding geriatric population contribute to the market's growth. Additionally, advancements in stroke detection and treatment technologies support market expansion.
Price Performance
In the past year, HYPR shares have surged 48.4% compared with the industry’s rise of 18.5%.
Zacks Rank and Key Picks
Hyperfine currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Alcon (ALC, Perrigo Company PRGO and Hologic HOLX, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Alcon has an estimated long-term growth rate of 14.9%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 8.85%.
ALC’s shares have rallied 22.8% year to date compared with the industry’s 8.4% growth.
Perrigo’s earnings are expected to improve 24.6% in 2023. The strong momentum is likely to continue in 2024 as well. PRGO’s earnings surpassed estimates in two of the trailing four quarters and missed the same twice, delivering an average negative surprise of 0.79%.
The company’s shares have lost 0.4% year to date against the industry’s 5.3% growth.
Hologic has an estimated earnings growth rate of 4.1% for fiscal 2024. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 27.32%.
HOLX’s shares have risen 5.6% year to date compared with the industry’s 8.4% growth.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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