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Arvinas (ARVN) Moves 6.9% Higher: Will This Strength Last?
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Arvinas, Inc. (ARVN - Free Report) shares soared 6.9% in the last trading session to close at $11.33. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 20.7% loss over the past four weeks.
This rise in share price is attributable to positive investor expectations around its pipeline. Last month, Arvinas presented encouraging data from an early-stage study of ARV-102, an experimental PROTAC targeting LRRK2 for the treatment of Parkinson’s disease. Key findings showed treatment with the drug achieved 50% or greater reduction of LRRK2 in cerebrospinal fluid (CSF) at all doses by day 14 and maintained this reduction through day 28. Based on this data, the company intends to continue evaluating ARV-102 in neurodegenerative diseases associated with LRRK2 and endolysosomal dysfunction.
This company is expected to post quarterly loss of $0.94 per share in its upcoming report, which represents a year-over-year change of -182.5%. Revenues are expected to be $17.09 million, down 91% 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 Arvinas, the consensus EPS estimate for the quarter has been revised 1.3% 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 belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, EyePoint (EYPT - Free Report) , closed the last trading session 1% higher at $13.02. Over the past month, EYPT has returned -29.6%.
For EyePoint, the consensus EPS estimate for the upcoming report has changed -13.7% over the past month to -$0.79. This represents a change of -21.5% from what the company reported a year ago. EyePoint currently has a Zacks Rank of #3 (Hold).
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Arvinas (ARVN) Moves 6.9% Higher: Will This Strength Last?
Arvinas, Inc. (ARVN - Free Report) shares soared 6.9% in the last trading session to close at $11.33. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 20.7% loss over the past four weeks.
This rise in share price is attributable to positive investor expectations around its pipeline. Last month, Arvinas presented encouraging data from an early-stage study of ARV-102, an experimental PROTAC targeting LRRK2 for the treatment of Parkinson’s disease. Key findings showed treatment with the drug achieved 50% or greater reduction of LRRK2 in cerebrospinal fluid (CSF) at all doses by day 14 and maintained this reduction through day 28. Based on this data, the company intends to continue evaluating ARV-102 in neurodegenerative diseases associated with LRRK2 and endolysosomal dysfunction.
This company is expected to post quarterly loss of $0.94 per share in its upcoming report, which represents a year-over-year change of -182.5%. Revenues are expected to be $17.09 million, down 91% 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 Arvinas, the consensus EPS estimate for the quarter has been revised 1.3% 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Arvinas belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, EyePoint (EYPT - Free Report) , closed the last trading session 1% higher at $13.02. Over the past month, EYPT has returned -29.6%.
For EyePoint, the consensus EPS estimate for the upcoming report has changed -13.7% over the past month to -$0.79. This represents a change of -21.5% from what the company reported a year ago. EyePoint currently has a Zacks Rank of #3 (Hold).