Nurix Therapeutics (NRIX) Soars 5.6%: Is Further Upside Left in the Stock?

Nurix Therapeutics, Inc. (NRIX) shares soared 5.6% in the last trading session to close at $8.7. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 13.5% loss over the past four weeks.The surge in share price is likely due to positive investor expectations regarding Nurix’s set of pipeline candidates and ongoing collaboration deals with established pharma players. The company is focused on developing targeted protein degradation therapies—an emerging approach in drug innovation designed to improve treatment options in cancer and inflammatory disorders.This company is expected to post quarterly loss of $0.84 per share in its upcoming report, which represents a year-over-year change of -25.4%. Revenues are expected to be $18.67 million, up 48.3% 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 #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, EyePoint Pharmaceuticals (EYPT), closed the last trading session 5.2% higher at $14.08. Over the past month, EYPT has returned 11.2%.EyePoint Pharmaceuticals' consensus EPS estimate for the upcoming report has changed -10% over the past month to -$0.77. Compared to the company's year-ago EPS, this represents a change of -42.6%. EyePoint Pharmaceuticals currently boasts a Zacks Rank of #3 (Hold).Free Report: Profiting from the 2nd Wave of AI ExplosionThe next phase of the AI explosion is poised to create significant wealth for investors, especially those who get in early. It will add literally trillion of dollars to the economy and revolutionize nearly every part of our lives.Investors who bought shares like Nvidia at the right time have had a shot at huge gains.But the rocket ride in the "first wave" of AI stocks may soon come to an end. The sharp upward trajectory of these stocks will begin to level off, leaving exponential growth to a new wave of cutting-edge companies.Zacks' AI Boom 2.0: The Second Wave report reveals 4 under-the-radar companies that may soon be shining stars of AI’s next leap forward.Access AI Boom 2.0 now, absolutely free >>Want 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 EYEPOINT PHARMACEUTICALS, INC. (EYPT): 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