Pyxis OncologyNASDAQ: PYXS

Pyxis Oncology, Inc. (PYXS) reported a quarterly loss of $0.06 per share, which was better than the Zacks Consensus Estimate of a loss of $0.27. This is an improvement from the loss of $0.54 per share reported in the same quarter last year.

On Wall Street, analysts' average price targets suggest a potential 61.3% increase in Pyxis Oncology (PYXS). Though the accuracy of this metric is uncertain, the positive trend in earnings estimates could lead to a rise in the stock.

Pyxis Oncology (PYXS) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Given the current risk-on sentiment, it is perhaps an ideal time for investors to scoop up some of the top biotech stocks. The stock market is booming, and with investors looking to take on more risk, a potential surge in biotech stocks seems likely.

BOSTON, March 07, 2024 (GLOBE NEWSWIRE) -- Pyxis Oncology, Inc. (Nasdaq: PYXS), a clinical stage company focused on developing next generation therapeutics to target difficult-to-treat cancers, announced today that Lara S. Sullivan, M.D., President and Chief Executive Officer, will participate in a fireside chat on Wednesday, March 13, 2024 at 8:40 AM EST at the Leerink Partners Global Biopharma Conference, Miami Beach, Florida, where members of management will also host investor one-on-one meetings.

PYX-201, an EDB+FN-specific tumor stroma-targeting ADC, demonstrates potent anti-tumor efficacy across multiple human cancers in PDX tumor models

Pyxis Oncology, Inc. (PYXS) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

Pyxis Oncology, Inc. (PYXS) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Pyxis Oncology is developing next-generation therapeutics, including antibody-drug conjugates and immuno-oncology programs, to target solid tumors resistant to current treatments. PYXS's lead product candidates, PYX-201 and PYX-106, are currently in Phase 1 clinical trials, with promising preclinical results and unique targeting mechanisms. Pyxis Oncology presents a 'Buy' opportunity for high-risk-tolerant investors, but investors should monitor the progress of ongoing Phase 1 trials and the competitive landscape.