Arvinas, Inc. to Post FY2023 Earnings of ($4.94) Per Share, Wedbush Forecasts (NASDAQ:ARVN)

Arvinas, Inc. (NASDAQ:ARVN) – Stock analysts at Wedbush raised their FY2023 earnings per share estimates for Arvinas in a report issued on Tuesday, November 7th. Wedbush analyst R. Driscoll now expects that the company will post earnings of ($4.94) per share for the year, up from their prior estimate of ($5.53). Wedbush has a “Outperform” rating and a $24.00 price objective on the stock. The consensus estimate for Arvinas’ current full-year earnings is ($6.05) per share. Wedbush also issued estimates for Arvinas’ Q4 2023 earnings at ($0.97) EPS, Q1 2024 earnings at ($0.98) EPS, Q2 2024 earnings at ($0.99) EPS, Q3 2024 earnings at ($1.01) EPS, Q4 2024 earnings at ($1.40) EPS, FY2024 earnings at ($4.38) EPS, FY2025 earnings at ($4.46) EPS, FY2026 earnings at ($4.39) EPS and FY2027 earnings at ($4.85) EPS.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($1.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.58) by $0.40. The firm had revenue of $34.60 million for the quarter, compared to analyst estimates of $39.58 million. Arvinas had a negative net margin of 185.09% and a negative return on equity of 59.18%. The company’s revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.24) EPS.

Other equities analysts also recently issued research reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Arvinas in a research report on Wednesday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $70.00 price objective on shares of Arvinas in a research report on Thursday, September 7th. Piper Sandler reduced their target price on shares of Arvinas from $70.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, October 23rd. Morgan Stanley lowered their price target on shares of Arvinas from $35.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Monday, August 14th. Finally, Barclays dropped their price objective on shares of Arvinas from $39.00 to $26.00 and set an “overweight” rating for the company in a research note on Tuesday, October 24th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.14.

Arvinas Stock Performance

Shares of ARVN stock opened at $14.99 on Friday. Arvinas has a 52-week low of $13.57 and a 52-week high of $57.96. The stock has a market cap of $824.90 million, a price-to-earnings ratio of -2.71 and a beta of 1.86. The firm’s 50-day moving average is $19.72 and its 200-day moving average is $23.12.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Pictet Asset Management SA lifted its position in Arvinas by 9.4% in the first quarter. Pictet Asset Management SA now owns 531,080 shares of the company’s stock worth $14,509,000 after buying an additional 45,799 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Arvinas by 57.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 5,306 shares of the company’s stock valued at $145,000 after purchasing an additional 1,936 shares during the last quarter. SG Americas Securities LLC raised its position in Arvinas by 79.8% in the 2nd quarter. SG Americas Securities LLC now owns 57,388 shares of the company’s stock worth $1,424,000 after purchasing an additional 25,471 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Arvinas by 6.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 36,579 shares of the company’s stock worth $908,000 after purchasing an additional 2,091 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Arvinas by 35.5% during the first quarter. Russell Investments Group Ltd. now owns 52,470 shares of the company’s stock valued at $1,433,000 after buying an additional 13,755 shares during the period. 86.33% of the stock is owned by hedge funds and other institutional investors.

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.