Nurix Therapeutics (NRIX) Soars 16.4%: Is Further Upside Left in the Stock?

Nurix Therapeutics, Inc. (NRIX) shares soared 16.4% in the last trading session to close at $22.46. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10.5% gain over the past four weeks.The sudden price rise can be attributed to growing investor optimism about the company’s recently announced collaboration with Swiss pharma giant, Roche. Earlier this month, the companies signed an exclusive licensing and collaboration agreement to co-develop and co-commercialize one of Nurix’s lead pipeline candidates, bexobrutideg (NX-5948), across various malignant hematology, immunology and neurology indications. Per the deal, Nurix is entitled to receive $700 million upfront and could earn up to $2.3 billion in total through development, regulatory, and commercial milestone payments from RocheThis company is expected to post quarterly loss of $0.73 per share in its upcoming report, which represents a year-over-year change of -40.4%. Revenues are expected to be $14.3 million, down 67.5% 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 been revised 1.8% 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 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 belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Keros Therapeutics, Inc. (KROS), closed the last trading session 4.7% lower at $10.41. Over the past month, KROS has returned -3.5%.Keros Therapeutics' consensus EPS estimate for the upcoming report has changed +1.1% over the past month to -$1.25. Compared to the company's year-ago EPS, this represents a change of -64.5%. Keros Therapeutics currently boasts a Zacks Rank of #4 (Sell).Beyond Nvidia: AI's Second Wave Is HereThe AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.See Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks