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Arvinas (ARVN) Surges 9.2%: Is This an Indication of Further Gains?
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Arvinas, Inc. (ARVN - Free Report) shares soared 9.2% in the last trading session to close at $32.73. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 20.2% gain over the past four weeks.
The stock rallied, driven by optimism over the company’s ongoing pipeline progress. Arinivas is currently evaluating its lead candidate, vepdegestrant, 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 other candidates currently being evaluated to treat prostate cancer and neurodegenerative disorders.
This company is expected to post quarterly loss of $0.72 per share in its upcoming report, which represents a year-over-year change of +42.4%. Revenues are expected to be $63.63 million, up 16.8% 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 remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Techne (TECH - Free Report) , finished the last trading session 3.4% higher at $79.82. TECH has returned 3.2% over the past month.
Techne's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.51. Compared to the company's year-ago EPS, this represents a change of -7.3%. Techne currently boasts a Zacks Rank of #3 (Hold).
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Arvinas (ARVN) Surges 9.2%: Is This an Indication of Further Gains?
Arvinas, Inc. (ARVN - Free Report) shares soared 9.2% in the last trading session to close at $32.73. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 20.2% gain over the past four weeks.
The stock rallied, driven by optimism over the company’s ongoing pipeline progress. Arinivas is currently evaluating its lead candidate, vepdegestrant, 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 other candidates currently being evaluated to treat prostate cancer and neurodegenerative disorders.
This company is expected to post quarterly loss of $0.72 per share in its upcoming report, which represents a year-over-year change of +42.4%. Revenues are expected to be $63.63 million, up 16.8% 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 remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Arvinas is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Techne (TECH - Free Report) , finished the last trading session 3.4% higher at $79.82. TECH has returned 3.2% over the past month.
Techne's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.51. Compared to the company's year-ago EPS, this represents a change of -7.3%. Techne currently boasts a Zacks Rank of #3 (Hold).