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Immunome (IMNM) Soars 6.0%: Is Further Upside Left in the Stock?
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Immunome, Inc. (IMNM - Free Report) shares rallied 6% in the last trading session to close at $9.3. 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 0.1% gain over the past four weeks.
The sudden price rise can be attributed to growing investor optimism regarding the company’s efforts to develop its lead pipeline candidate, varegacestat, which is currently in late-stage clinical studies for the treatment of desmoid tumors. Immunome is also developing other targeted therapies in early-stage studies for the treatment of various cancer indications.
This company is expected to post quarterly loss of $0.52 per share in its upcoming report, which represents a year-over-year change of -6.1%. Revenues are expected to be $2.47 million, up 4.5% 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 Immunome, the consensus EPS estimate for the quarter has been revised 1.9% 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 IMNM going forward to see if this recent jump can turn into more strength down the road.
Immunome is part of the Zacks Medical - Biomedical and Genetics industry. Nurix Therapeutics, Inc. (NRIX - Free Report) , another stock in the same industry, closed the last trading session 2.2% lower at $11.39. NRIX has returned 9.5% in the past month.
Nurix Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.72. Compared to the company's year-ago EPS, this represents a change of -1.4%. Nurix Therapeutics currently boasts a Zacks Rank of #3 (Hold).
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Immunome (IMNM) Soars 6.0%: Is Further Upside Left in the Stock?
Immunome, Inc. (IMNM - Free Report) shares rallied 6% in the last trading session to close at $9.3. 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 0.1% gain over the past four weeks.
The sudden price rise can be attributed to growing investor optimism regarding the company’s efforts to develop its lead pipeline candidate, varegacestat, which is currently in late-stage clinical studies for the treatment of desmoid tumors. Immunome is also developing other targeted therapies in early-stage studies for the treatment of various cancer indications.
This company is expected to post quarterly loss of $0.52 per share in its upcoming report, which represents a year-over-year change of -6.1%. Revenues are expected to be $2.47 million, up 4.5% 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 Immunome, the consensus EPS estimate for the quarter has been revised 1.9% 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 IMNM 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 >>>>
Immunome is part of the Zacks Medical - Biomedical and Genetics industry. Nurix Therapeutics, Inc. (NRIX - Free Report) , another stock in the same industry, closed the last trading session 2.2% lower at $11.39. NRIX has returned 9.5% in the past month.
Nurix Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.72. Compared to the company's year-ago EPS, this represents a change of -1.4%. Nurix Therapeutics currently boasts a Zacks Rank of #3 (Hold).