FY2024 EPS Estimates for Arvinas Cut by Leerink Partnrs

Arvinas, Inc. (NASDAQ:ARVN) – Equities researchers at Leerink Partnrs cut their FY2024 earnings per share estimates for Arvinas in a research note issued to investors on Thursday, October 31st. Leerink Partnrs analyst A. Berens now anticipates that the company will post earnings per share of ($2.70) for the year, down from their previous estimate of ($2.27). The consensus estimate for Arvinas’ current full-year earnings is ($3.44) 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.

A number of other research analysts also recently issued reports on the stock. Barclays cut their price objective on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Oppenheimer lowered their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Wedbush restated an “outperform” rating and set a $57.00 price target on shares of Arvinas in a research note on Tuesday, July 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. Finally, HC Wainwright restated 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.92.

Arvinas Price Performance

Shares of NASDAQ ARVN opened at $26.90 on Monday. The business has a fifty day moving average price of $25.64 and a 200 day moving average price of $27.66. Arvinas has a 1-year low of $14.02 and a 1-year high of $53.08. The stock has a market capitalization of $1.85 billion, a P/E ratio of -5.76 and a beta of 1.96.

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

Institutional Investors Weigh In On Arvinas

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Arvinas by 29.9% in the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock valued at $260,046,000 after acquiring an additional 1,448,166 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Arvinas by 14.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock worth $180,329,000 after acquiring an additional 536,295 shares during the last quarter. Candriam S.C.A. grew 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 acquiring an additional 147,904 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Arvinas in the 3rd quarter valued at about $3,442,000. Finally, Panagora Asset Management Inc. lifted its stake in Arvinas by 57.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 256,658 shares of the company’s stock worth $6,832,000 after purchasing an additional 93,568 shares in the last quarter. Hedge funds and other 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.