Arvinas, Inc. (ARVN) shares soared 8% in the last trading session to close at $45.80. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 2.7% gain over the past four weeks.
Promising partnerships with big and small pharma companies drives the prospect of Arvinas. The company’s new partnership with Foundation Medicine inled earlier this month is likely driving the recent rally in share prices.
This company is expected to post quarterly loss of $1.02 per share in its upcoming report, which represents a year-over-year change of +1%. Revenues are expected to be $26.75 million, up 382.9% 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, Inc., the consensus EPS estimate for the quarter has been revised marginally 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, Inc. belongs to the Zacks Medical – Biomedical and Genetics industry. Another stock from the same industry, Biohaven Pharmaceutical Holding Company Ltd. (BHVN), closed the last trading session 0.3% lower at $143.79. Over the past month, BHVN has returned 0.7%.
For Biohaven Pharmaceutical Holding Company Ltd.
, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.67. This represents a change of +17.3% from what the company reported a year ago. Biohaven Pharmaceutical Holding Company Ltd. currently has a Zacks Rank of #3 (Hold).
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