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Strength Seen in Curis (CRIS): Can Its 19.5% Jump Turn into More Strength?

Zacks Equity Research
·2-min read

Curis (CRIS) shares rallied 19.5% in the last trading session to close at $16.01. 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 37.3% gain over the past four weeks.

The stock rallied due to the optimism over the development of the company’s lead candidate, emavusertib, which is being evaluated in mid-stage studies for treating various cancer indications like primary central nervous system lymphoma, acute myeloid leukemia and high-risk myelodysplastic syndrome.

This drug developer is expected to post quarterly loss of $1.94 per share in its upcoming report, which represents a year-over-year change of +19.2%. Revenues are expected to be $2.31 million, up 0.4% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Curis, the consensus EPS estimate for the quarter has been revised 18.3% 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 CRIS 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 >>>>

Curis is part of the Zacks Medical - Biomedical and Genetics industry. Mersana Therapeutics, Inc. (MRSN), another stock in the same industry, closed the last trading session 4.5% lower at $4.25. MRSN has returned -22.5% in the past month.

For Mersana Therapeutics , the consensus EPS estimate for the upcoming report has changed -2% over the past month to -$0.18. This represents a change of +65.4% from what the company reported a year ago. Mersana Therapeutics currently has a Zacks Rank of #3 (Hold).

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Zacks Investment Research