Viracta Therapeutics
VIRX
stock has risen 24.1% this year so far against an 18.5% decrease for the
industry
.
Image Source: Zacks Investment Research
CA-based VIRX is a precision oncology company targeting virus-associated malignancies. It has a Zacks Rank #2 (Buy). You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
Viracta Therapeutics’ loss estimates for 2022 have narrowed from $1.44 per share to $1.24, while the same for 2023 has narrowed from $1.65 per share to $1.36 over the past 60 days.
Here we discuss the reasons for the stock’s upbeat performance this year so far.
Viracta Therapeutics is making rapid progress in the development of its lead pipeline candidate, Nana-val, which is an all-oral combination of its proprietary investigational drug, nanatinostat, and the antiviral agent valganciclovir. Nana-val is being evaluated in multiple clinical studies in various subtypes of Epstein-Barr virus (EBV)-associated cancers, including a pivotal study (NAVAL-1) for the treatment of EBV-positive (EBV+) lymphoma. Clinical data from some cohorts of the pivotal study that have advanced into Stage 2 is anticipated in the second half of 2022.
Also, preliminary safety and efficacy data from the phase I/II study of Nana-val in advanced EBV+ solid tumors is expected to be announced in the second half of 2022. The first patient in this study was dosed in January. The data readouts from the clinical studies could act as potential catalysts for the stock.
Other Stocks to Consider
Other small drugmakers worth considering include
Chinook Therapeutics
KDNY
,
Assertio Holdings
ASRT
and
Soleno Therapeutics
SLNO
. While Assertio Holdings has a Zacks Rank of 1, the other two companies carry a Zacks Rank of 2.
Loss estimates for Chinook Therapeutics have narrowed from $3.12 per share to $2.49 for 2022 and from $3.35 per share to $2.63 per share for 2023 over the past 60 days. The stock is up 13.5% this year so far.
Earnings of Chinook Therapeutics beat estimates in each of the last four quarters, the average being 42.05%.
Assertio Holdings has risen 52.3% this year so far. Earnings estimates for 2022 have improved from 35 cents per share to 40 cents. The same for 2023 has risen from 5 cents to 29 cents over the past 60 days.
Earnings of Assertio Holdings beat estimates in two of the last four quarters and missed on two occasions, the average surprise being 26.39%.
Soleno Therapeutics’ loss estimates for 2022 have narrowed from 30 cents per share to 28 cents per share over the past 60 days. The stock has declined 47.6% this year so far.
Earnings of Soleno Therapeutics beat estimates in two of the last four quarters, missed the mark on one occasion and matched in one quarter, the average negative surprise being 10.92%.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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