Kura Oncology (KURA) shares rallied 8.3% in the last trading session to close at $9.68. 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 6.1% gain over the past four weeks.
KURA Oncology’s stock rallied after the company announced encouraging preliminary data from the ongoing FIT-001 study evaluating darlifarnib in combination with cabozantinib in patients with clear cell renal cell carcinoma (ccRCC) who had previously been treated with cabozantinib. The treatment demonstrated strong anti-tumor activity along with a manageable safety profile across different dose levels, including full-dose cabozantinib. The study has now progressed to the phase Ib dose-expansion stage, aimed at identifying the most effective and biologically active dose for the combination.
This biopharmaceutical company is expected to post quarterly loss of $0.89 per share in its upcoming report, which represents a year-over-year change of -34.9%. Revenues are expected to be $15.06 million, up 6.7% 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.
For Kura Oncology, the consensus EPS estimate for the quarter has been revised 2.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on KURA 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 >>>>
Kura Oncology belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Moderna (MRNA), closed the last trading session 1.8% lower at $53.72. Over the past month, MRNA has returned 4.4%.
Moderna's consensus EPS estimate for the upcoming report has changed +1.4% over the past month to -$2.27. Compared to the company's year-ago EPS, this represents a change of +9.9%. Moderna currently boasts a Zacks Rank of #3 (Hold).
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Kura Oncology, Inc. (KURA): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).