FY2023 EPS Estimates for Arvinas, Inc. Lifted by Analyst (NASDAQ:ARVN)

Arvinas, Inc. (NASDAQ:ARVN) – Research analysts at Cantor Fitzgerald lifted their FY2023 earnings per share estimates for Arvinas in a research note issued on Wednesday, November 8th. Cantor Fitzgerald analyst L. Watsek now anticipates that the company will post earnings per share of ($5.46) for the year, up from their previous estimate of ($7.00). Cantor Fitzgerald has a “Overweight” rating and a $70.00 price objective on the stock. The consensus estimate for Arvinas’ current full-year earnings is ($6.05) per share. Cantor Fitzgerald also issued estimates for Arvinas’ FY2024 earnings at ($8.15) EPS.

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

ARVN has been the subject of a number of other research reports. Citigroup cut their target price on shares of Arvinas from $72.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, October 24th. Barclays dropped their price target on Arvinas from $39.00 to $26.00 and set an “overweight” rating for the company in a research report on Tuesday, October 24th. Piper Sandler lowered their target price on shares of Arvinas from $70.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, October 23rd. Oppenheimer reiterated an “outperform” rating and issued a $95.00 target price on shares of Arvinas in a research report on Wednesday, August 9th. Finally, Morgan Stanley dropped their price objective on shares of Arvinas from $35.00 to $32.00 and set an “equal weight” rating for the company in a research note on Monday, August 14th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arvinas presently has an average rating of “Moderate Buy” and a consensus target price of $57.14.

Arvinas Stock Down 1.1 %

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ARVN. Raymond James & Associates raised its position in Arvinas by 21.3% in the first quarter. Raymond James & Associates now owns 6,686 shares of the company’s stock valued at $450,000 after purchasing an additional 1,172 shares during the period. MetLife Investment Management LLC raised its holdings in Arvinas by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 25,350 shares of the company’s stock valued at $1,706,000 after buying an additional 9,039 shares during the period. Rhumbline Advisers lifted its position in Arvinas by 3.1% in the first quarter. Rhumbline Advisers now owns 49,324 shares of the company’s stock valued at $3,320,000 after buying an additional 1,479 shares during the last quarter. BlackRock Inc. boosted its stake in Arvinas by 0.6% during the first quarter. BlackRock Inc. now owns 3,525,259 shares of the company’s stock worth $237,251,000 after buying an additional 19,519 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in shares of Arvinas by 743.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 17,786 shares of the company’s stock valued at $1,271,000 after acquiring an additional 15,678 shares during the period. 86.33% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Company Profile

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.