Q3 2024 Earnings Estimate for Arvinas, Inc. (NASDAQ:ARVN) Issued By HC Wainwright

Arvinas, Inc. (NASDAQ:ARVN) – Investment analysts at HC Wainwright lifted their Q3 2024 earnings per share (EPS) estimates for shares of Arvinas in a report released on Wednesday, July 31st. HC Wainwright analyst A. Fein now forecasts that the company will earn ($0.11) per share for the quarter, up from their previous forecast of ($0.87). HC Wainwright has a “Buy” rating and a $87.00 price objective on the stock. The consensus estimate for Arvinas’ current full-year earnings is ($3.67) per share. HC Wainwright also issued estimates for Arvinas’ Q4 2024 earnings at ($0.33) EPS, FY2024 earnings at ($1.89) EPS, FY2025 earnings at ($2.51) EPS, FY2026 earnings at ($3.43) EPS, FY2027 earnings at ($1.97) EPS and FY2028 earnings at $4.03 EPS.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($1.08) by $0.59. The company had revenue of $76.50 million for the quarter, compared to analysts’ expectations of $33.27 million. During the same quarter last year, the company earned ($1.25) EPS. Arvinas’s revenue for the quarter was up 40.4% compared to the same quarter last year.

A number of other brokerages have also issued reports on ARVN. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Wednesday, July 31st. Stifel Nicolaus dropped their target price on Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Oppenheimer reduced their price target on Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Wedbush reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Arvinas in a report on Tuesday, July 30th. Finally, Barclays cut their price objective on Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Arvinas currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.33.

Arvinas Stock Performance

Shares of Arvinas stock opened at $25.18 on Monday. Arvinas has a one year low of $13.57 and a one year high of $53.08. The company has a market cap of $1.73 billion, a P/E ratio of -4.25 and a beta of 1.98. The firm has a fifty day moving average of $27.33 and a two-hundred day moving average of $35.64.

Institutional Investors Weigh In On Arvinas

Large investors have recently added to or reduced their stakes in the business. Great Point Partners LLC purchased a new stake in Arvinas in the 4th quarter valued at approximately $9,635,000. Boxer Capital LLC acquired a new stake in shares of Arvinas during the fourth quarter valued at $25,051,000. Charles Schwab Investment Management Inc. increased its position in Arvinas by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 469,474 shares of the company’s stock worth $19,324,000 after purchasing an additional 39,484 shares in the last quarter. Rhenman & Partners Asset Management AB raised its stake in Arvinas by 58.0% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 134,270 shares of the company’s stock valued at $5,527,000 after purchasing an additional 49,270 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. purchased a new position in Arvinas in the 4th quarter valued at about $2,506,000. 95.19% of the stock is owned by institutional investors and hedge funds.

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.