FY2024 EPS Estimates for Arvinas Decreased by Analyst

Arvinas, Inc. (NASDAQ:ARVN) – Investment analysts at Leerink Partnrs lowered their FY2024 EPS estimates for Arvinas in a research note issued on Thursday, October 31st. Leerink Partnrs analyst A. Berens now forecasts that the company will earn ($2.70) per share for the year, down from their previous forecast of ($2.27). The consensus estimate for Arvinas’ current full-year earnings is ($3.51) per share. Leerink Partnrs also issued estimates for Arvinas’ Q4 2024 earnings at ($0.56) EPS, FY2025 earnings at ($2.85) EPS, FY2026 earnings at ($2.59) EPS and FY2027 earnings at $1.64 EPS.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million during the quarter, compared to analyst estimates of $60.56 million. The business’s revenue for the quarter was up 196.0% on a year-over-year basis. During the same period last year, the company earned ($1.18) EPS.

Other analysts have also issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $87.00 price objective on shares of Arvinas in a report on Thursday, October 31st. Wedbush reissued an “outperform” rating and set a $57.00 price target on shares of Arvinas in a research note on Tuesday, July 30th. Barclays decreased their price target on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Oppenheimer decreased their price target on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.92.

Arvinas Trading Down 0.4 %

NASDAQ ARVN opened at $26.80 on Monday. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -5.84 and a beta of 1.96. The company has a 50 day moving average of $25.64 and a 200-day moving average of $27.71. Arvinas has a 1-year low of $14.02 and a 1-year high of $53.08.

Institutional Investors Weigh In On Arvinas

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Arvinas during the first quarter worth $44,000. Quest Partners LLC bought a new position in shares of Arvinas in the 2nd quarter valued at about $42,000. nVerses Capital LLC bought a new position in shares of Arvinas in the 3rd quarter valued at about $39,000. Amalgamated Bank grew its position in shares of Arvinas by 29.6% in the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after acquiring an additional 508 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Arvinas by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after acquiring an additional 440 shares during the period. 95.19% of the stock is currently owned by institutional investors and hedge funds.

About Arvinas

Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body’s own natural protein disposal system to degrade and remove disease-causing proteins.