Arvinas, Inc. (NASDAQ:ARVN – Free Report) – 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 – Get Free Report) 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.
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.
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