FY2024 EPS Estimates for Arvinas Cut by Leerink Partnrs

Arvinas, Inc. (NASDAQ:ARVN) – Investment analysts at Leerink Partnrs cut their FY2024 EPS estimates for shares of Arvinas in a report issued on Thursday, October 31st. Leerink Partnrs analyst A. Berens now anticipates that the company will post earnings of ($2.70) per share for the year, down from their previous estimate 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.

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

Arvinas Stock Performance

Shares of Arvinas stock opened at $26.90 on Monday. Arvinas has a 52-week low of $14.02 and a 52-week high of $53.08. The business’s 50 day simple moving average is $25.64 and its 200 day simple moving average is $27.75. The firm has a market cap of $1.85 billion, a PE ratio of -5.76 and a beta of 1.96.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.88) by $0.20. The firm 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% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.18) EPS.

Institutional Trading of Arvinas

A number of hedge funds have recently made changes to their positions in ARVN. Allspring Global Investments Holdings LLC raised its stake in Arvinas by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,570 shares of the company’s stock valued at $519,000 after acquiring an additional 1,060 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Arvinas by 3.8% in the first quarter. Principal Financial Group Inc. now owns 13,307 shares of the company’s stock valued at $549,000 after purchasing an additional 486 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Arvinas in the first quarter valued at about $44,000. SG Americas Securities LLC lifted its stake in shares of Arvinas by 462.2% during the 1st quarter. SG Americas Securities LLC now owns 36,297 shares of the company’s stock worth $1,498,000 after buying an additional 29,841 shares during the last quarter. Finally, Swiss National Bank lifted its position in Arvinas by 27.5% during the first quarter. Swiss National Bank now owns 114,100 shares of the company’s stock worth $4,710,000 after acquiring an additional 24,600 shares during the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

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.