Strength Seen in Arvinas, Inc. (ARVN): Can Its 6.3% Jump Turn into More Strength?
Arvinas, Inc. (ARVN) shares rallied 6.3% in the last trading session to close at $15.08. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 27.8% loss over the past four weeks.
Earlier this month, the company presented positive interim data from a phase I/II study evaluating its pipeline candidate bavdegalutamide (ARV-110) for treating patients with metastatic castration-resistant prostate cancer (mCRPC). Extended follow-up data from the study showed that treatment with bavdegalutamide led to radiographic progression-free survival of 11.1 months in a subgroup of patients with mCRPC. This might have driven the share price rally.
This company is expected to post quarterly loss of $1.52 per share in its upcoming report, which represents a year-over-year change of -22.6%. Revenues are expected to be $39.51 million, up 30.4% 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 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, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Orchard Therapeutics PLC Sponsored ADR (ORTX), another stock in the same industry, closed the last trading session 0.2% lower at $15.89. ORTX has returned 106% in the past month.
For Orchard Therapeutics PLC Sponsored ADR , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.30. This represents a change of +64.9% from what the company reported a year ago. Orchard Therapeutics PLC Sponsored ADR currently has a Zacks Rank of #3 (Hold).
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
Arvinas, Inc. (ARVN) : Free Stock Analysis Report
Orchard Therapeutics PLC Sponsored ADR (ORTX) : Free Stock Analysis Report
