ArriVent BioPharma (NASDAQ:AVBP) Posts Earnings Results, Hits Expectations

ArriVent BioPharma (NASDAQ:AVBP) posted its quarterly earnings data on Wednesday. The company reported ($0.65) EPS for the quarter, hitting analysts’ consensus estimates of ($0.65), Zacks reports.

ArriVent BioPharma Trading Up 2.1 %

Shares of AVBP traded up $0.50 during trading hours on Friday, hitting $24.36. The stock had a trading volume of 93,354 shares, compared to its average volume of 122,277. ArriVent BioPharma has a 12-month low of $14.35 and a 12-month high of $25.95. The company’s fifty day simple moving average is $19.68 and its 200 day simple moving average is $19.19.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AVBP. Oppenheimer reiterated an “outperform” rating and issued a $35.00 price target on shares of ArriVent BioPharma in a report on Thursday. HC Wainwright upped their target price on ArriVent BioPharma from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $31.40.

ArriVent BioPharma Company Profile

ArriVent BioPharma, Inc operates as a clinical-stage biopharmaceutical company that engages in the identification, development, and commercialization of medicines for the unmet medical needs of patients with cancers in the United States. It also engages in the development and commercialization of targeted cancer therapies for non-small cell lung cancer (NSCLC) and other solid tumors.