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Arvinas, Inc. (ARVN) Soars 10.0%: Is Further Upside Left in the Stock?
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Arvinas, Inc. (ARVN - Free Report) shares soared 10% in the last trading session to close at $45.65. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.7% gain over the past four weeks.
The sudden surge in the stock price can be attributed to the positive mindset of the investors regarding Arinivas' pipeline progress. The company is currently evaluating its lead candidate, vepdegestrant (formerly ARV-471) in two late-stage studies — VERITAC-2 and VERITAC-3 — as a monotherapy to treat second-line breast cancer and in combination with Pfizer’s Ibrance (palbociclib) in the first-line setting. Arinivas' clinical pipeline contains two other mid-stage candidates, currently being evaluated to treat prostate cancer.
This company is expected to post quarterly loss of $1.28 per share in its upcoming report, which represents a year-over-year change of +18%. Revenues are expected to be $44.63 million, up 17.5% 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 Arvinas, Inc., the consensus EPS estimate for the quarter has been revised 6.6% 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 ARVN going forward to see if this recent jump can turn into more strength down the road.
Arvinas, Inc. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Prothena (PRTA - Free Report) , closed the last trading session 3.6% lower at $27.37. Over the past month, PRTA has returned -25.4%.
For Prothena, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.07. This represents a change of -991.7% from what the company reported a year ago. Prothena currently has a Zacks Rank of #3 (Hold).
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Arvinas, Inc. (ARVN) Soars 10.0%: Is Further Upside Left in the Stock?
Arvinas, Inc. (ARVN - Free Report) shares soared 10% in the last trading session to close at $45.65. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.7% gain over the past four weeks.
The sudden surge in the stock price can be attributed to the positive mindset of the investors regarding Arinivas' pipeline progress. The company is currently evaluating its lead candidate, vepdegestrant (formerly ARV-471) in two late-stage studies — VERITAC-2 and VERITAC-3 — as a monotherapy to treat second-line breast cancer and in combination with Pfizer’s Ibrance (palbociclib) in the first-line setting. Arinivas' clinical pipeline contains two other mid-stage candidates, currently being evaluated to treat prostate cancer.
This company is expected to post quarterly loss of $1.28 per share in its upcoming report, which represents a year-over-year change of +18%. Revenues are expected to be $44.63 million, up 17.5% 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 Arvinas, Inc., the consensus EPS estimate for the quarter has been revised 6.6% 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 ARVN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Arvinas, Inc. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Prothena (PRTA - Free Report) , closed the last trading session 3.6% lower at $27.37. Over the past month, PRTA has returned -25.4%.
For Prothena, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.07. This represents a change of -991.7% from what the company reported a year ago. Prothena currently has a Zacks Rank of #3 (Hold).