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Nurix Therapeutics (NRIX) Surges 20.6%: Is This an Indication of Further Gains?
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Nurix Therapeutics, Inc. (NRIX - Free Report) shares rallied 20.6% in the last trading session to close at $18.44. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.6% loss over the past four weeks.
On Jun 16, the company presented encouraging updated data from the ongoing phase Ia/Ib study evaluating the safety and efficacy of daily oral dosing of NX-5948 in adult patients with relapsed or refractory B-cell malignancies including chronic lymphocytic leukemia (CLL) and non-Hodgkin lymphoma at the European Hematology Association Congress. The data demonstrated rapid clinical responses in CLL patients deepening with longer time on treatment with NX-5948. This might have driven the share price rally.
This company is expected to post quarterly loss of $0.70 per share in its upcoming report, which represents a year-over-year change of -55.6%. Revenues are expected to be $19.35 million, down 36.9% 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, 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 NRIX going forward to see if this recent jump can turn into more strength down the road.
Nurix Therapeutics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Omega Therapeutics, Inc. (OMGA - Free Report) , finished the last trading session 19.4% higher at $2.22. OMGA has returned -24.7% over the past month.
Omega Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.36. Compared to the company's year-ago EPS, this represents a change of +33.3%. Omega Therapeutics currently boasts a Zacks Rank of #3 (Hold).
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Nurix Therapeutics (NRIX) Surges 20.6%: Is This an Indication of Further Gains?
Nurix Therapeutics, Inc. (NRIX - Free Report) shares rallied 20.6% in the last trading session to close at $18.44. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.6% loss over the past four weeks.
On Jun 16, the company presented encouraging updated data from the ongoing phase Ia/Ib study evaluating the safety and efficacy of daily oral dosing of NX-5948 in adult patients with relapsed or refractory B-cell malignancies including chronic lymphocytic leukemia (CLL) and non-Hodgkin lymphoma at the European Hematology Association Congress. The data demonstrated rapid clinical responses in CLL patients deepening with longer time on treatment with NX-5948. This might have driven the share price rally.
This company is expected to post quarterly loss of $0.70 per share in its upcoming report, which represents a year-over-year change of -55.6%. Revenues are expected to be $19.35 million, down 36.9% 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, 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 NRIX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Nurix Therapeutics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Omega Therapeutics, Inc. (OMGA - Free Report) , finished the last trading session 19.4% higher at $2.22. OMGA has returned -24.7% over the past month.
Omega Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.36. Compared to the company's year-ago EPS, this represents a change of +33.3%. Omega Therapeutics currently boasts a Zacks Rank of #3 (Hold).