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Nuvation Bio (NUVB) Soars 7.9%: Is Further Upside Left in the Stock?
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Nuvation Bio Inc. (NUVB - Free Report) shares soared 7.9% in the last trading session to close at $6.26. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.3% gain over the past four weeks.
The stock rallied after the company announced updated positive long-term follow-up data from the phase III (J201) study evaluating safusidenib in patients with chemotherapy- and radiotherapy-naïve grade 2 IDH1-mutant glioma. The study showed that safusidenib achieved a confirmed objective response rate of 51.9% and a 36-month progression-free survival rate of 79.1% in patients with chemotherapy- and radiotherapy-naïve grade 2 IDH1-mutant glioma after a median follow-up of 38.8 months, with no new safety signals identified.
This company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents a year-over-year change of +11.8%. Revenues are expected to be $26.74 million, up 453.5% 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 Nuvation Bio, 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 NUVB going forward to see if this recent jump can turn into more strength down the road.
Nuvation Bio is part of the Zacks Medical - Biomedical and Genetics industry. Enanta Pharmaceuticals (ENTA - Free Report) , another stock in the same industry, closed the last trading session 4.2% lower at $13.16. ENTA has returned 8.5% in the past month.
Enanta Pharmaceuticals' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.37. Compared to the company's year-ago EPS, this represents a change of +56.5%. Enanta Pharmaceuticals currently boasts a Zacks Rank of #3 (Hold).
View the Zacks #1 Rank List
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Nuvation Bio (NUVB) Soars 7.9%: Is Further Upside Left in the Stock?
Nuvation Bio Inc. (NUVB - Free Report) shares soared 7.9% in the last trading session to close at $6.26. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.3% gain over the past four weeks.
The stock rallied after the company announced updated positive long-term follow-up data from the phase III (J201) study evaluating safusidenib in patients with chemotherapy- and radiotherapy-naïve grade 2 IDH1-mutant glioma. The study showed that safusidenib achieved a confirmed objective response rate of 51.9% and a 36-month progression-free survival rate of 79.1% in patients with chemotherapy- and radiotherapy-naïve grade 2 IDH1-mutant glioma after a median follow-up of 38.8 months, with no new safety signals identified.
This company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents a year-over-year change of +11.8%. Revenues are expected to be $26.74 million, up 453.5% 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 Nuvation Bio, 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 NUVB 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 >>>>
Nuvation Bio is part of the Zacks Medical - Biomedical and Genetics industry. Enanta Pharmaceuticals (ENTA - Free Report) , another stock in the same industry, closed the last trading session 4.2% lower at $13.16. ENTA has returned 8.5% in the past month.
Enanta Pharmaceuticals' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.37. Compared to the company's year-ago EPS, this represents a change of +56.5%. Enanta Pharmaceuticals currently boasts a Zacks Rank of #3 (Hold).