Nurix Therapeutics, Inc. NRIX shares ended the last trading session 14.5% higher at $9.02. 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 30.3% loss over the past four weeks.
The rise in share prices is attributable to NRIX initiating several potential phase Ib cohorts evaluating NX-2127, its lead candidate from its protein degradation portfolio, in patients with chronic lymphocytic leukemia (CLL). This expansion into CLL was based on positive data from a phase Ia study which demonstrated promising efficacy, safety, pharmacokinetic, and pharmacodynamic results of the candidate in CLL patients.
This company is expected to post quarterly loss of $1 per share in its upcoming report, which represents a year-over-year change of -66.7%. Revenues are expected to be $10.09 million, up 42.2% 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 Nurix Therapeutics, Inc., the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on NRIX 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 >>>>
Nurix Therapeutics, Inc. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, VistaGen Therapeutics, Inc. VTGN, closed the last trading session 3.9% higher at $1.06. Over the past month, VTGN has returned -22.7%.
For VistaGen Therapeutics, Inc. , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.06. This represents a change of +70% from what the company reported a year ago. VistaGen Therapeutics, Inc. currently has a Zacks Rank of #3 (Hold).
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