Nurix Therapeutics (NRIX) Moves 14.2% Higher: Will This Strength Last?

Nurix Therapeutics, Inc. (NRIX) shares soared 14.2% in the last trading session to close at $12.14. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.7% loss over the past four weeks.The stock rallied after the company announced that Sanofi has exercised its option to exclusively license Nurix’s STAT6 program, including the development candidate NX-3911, an oral, highly selective STAT6 degrader. Nurix is eligible to receive a license extension fee of $15 million from Sanofi. The company remains eligible for up to $465 million in potential development, regulatory, and commercial milestone payments per licensed program, along with royalties on future sales.This company is expected to post quarterly loss of $0.73 per share in its upcoming report, which represents a year-over-year change of -2.8%. Revenues are expected to be $17.31 million, up 43.2% 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, the consensus EPS estimate for the quarter has been revised 1.1% 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, argenex SE (ARGX), closed the last trading session 2% higher at $584.61. Over the past month, ARGX has returned -11.8%.For Argenx, the consensus EPS estimate for the upcoming report has changed +8.7% over the past month to $2.95. This represents a change of +555.6% from what the company reported a year ago. Argenx currently has a Zacks Rank of #3 (Hold).Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nurix Therapeutics, Inc. (NRIX): Free Stock Analysis Report argenex SE (ARGX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks