Arvinas (NASDAQ:ARVN) Announces Earnings Results, Beats Estimates By $0.59 EPS

Arvinas (NASDAQ:ARVN) issued its quarterly earnings data on Tuesday. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.59, Briefing.com reports. The business had revenue of $76.50 million for the quarter, compared to analyst estimates of $33.27 million. During the same quarter last year, the business earned ($1.25) EPS. Arvinas’s revenue for the quarter was up 40.4% compared to the same quarter last year.

Arvinas Trading Up 1.6 %

Shares of NASDAQ:ARVN opened at $27.51 on Thursday. The company has a 50 day moving average of $28.26 and a 200-day moving average of $36.04. The firm has a market cap of $1.88 billion, a P/E ratio of -4.64 and a beta of 1.98. Arvinas has a twelve month low of $13.57 and a twelve month high of $53.08.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ARVN. Oppenheimer reduced their target price on Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday. Barclays dropped their target price on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research note on Friday, May 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a report on Wednesday. Finally, Wells Fargo & Company reduced their price objective on Arvinas from $63.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.33.

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.