Wedbush Analysts Decrease Earnings Estimates for Arvinas

Arvinas, Inc. (NASDAQ:ARVN) – Analysts at Wedbush cut their FY2024 earnings per share (EPS) estimates for Arvinas in a research note issued on Wednesday, October 30th. Wedbush analyst R. Driscoll now forecasts that the company will earn ($3.69) per share for the year, down from their previous forecast of ($2.70). Wedbush currently has a “Outperform” rating and a $57.00 target price on the stock. The consensus estimate for Arvinas’ current full-year earnings is ($3.44) per share. Wedbush also issued estimates for Arvinas’ Q4 2024 earnings at ($1.56) EPS, Q1 2025 earnings at ($1.57) EPS, Q2 2025 earnings at ($1.58) EPS, Q3 2025 earnings at ($1.57) EPS, Q4 2025 earnings at ($1.14) EPS, FY2025 earnings at ($5.86) EPS, FY2026 earnings at ($4.91) EPS, FY2027 earnings at ($4.37) EPS and FY2028 earnings at ($0.47) EPS.

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

ARVN has been the topic of a number of other research reports. Oppenheimer lowered their target price on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Barclays dropped their price target on Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $87.00 target price on shares of Arvinas in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $56.92.

Arvinas Stock Performance

ARVN stock opened at $26.90 on Monday. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -5.76 and a beta of 1.96. Arvinas has a fifty-two week low of $14.02 and a fifty-two week high of $53.08. The stock has a fifty day moving average of $25.64 and a 200-day moving average of $27.66.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Arvinas by 29.9% during the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock valued at $260,046,000 after buying an additional 1,448,166 shares during the period. Swiss National Bank raised its position in shares of Arvinas by 27.5% in the 1st quarter. Swiss National Bank now owns 114,100 shares of the company’s stock worth $4,710,000 after purchasing an additional 24,600 shares during the last quarter. SG Americas Securities LLC grew its position in Arvinas by 137.2% during the 2nd quarter. SG Americas Securities LLC now owns 86,096 shares of the company’s stock valued at $2,292,000 after purchasing an additional 49,799 shares during the last quarter. Candriam S.C.A. increased its stake in Arvinas by 32.0% during the 2nd quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock valued at $16,250,000 after purchasing an additional 147,904 shares in the last quarter. Finally, Magnetar Financial LLC increased its stake in Arvinas by 112.7% during the 2nd quarter. Magnetar Financial LLC now owns 41,992 shares of the company’s stock valued at $1,118,000 after purchasing an additional 22,245 shares in the last quarter. Institutional investors own 95.19% of the company’s stock.

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.