Wedbush Issues Pessimistic Estimate for Arvinas Earnings

Arvinas, Inc. (NASDAQ:ARVN) – Wedbush dropped their FY2024 earnings per share estimates for shares of Arvinas in a research report issued to clients and investors on Wednesday, October 30th. Wedbush analyst R. Driscoll now forecasts that the company will post earnings per share of ($3.69) for the year, down from their previous estimate of ($2.70). Wedbush currently has a “Outperform” rating and a $57.00 target price on the stock. The consensus estimate for Arvinas’ current full-year earnings is ($3.51) per share. Wedbush also issued estimates for Arvinas’ Q4 2024 earnings at ($1.56) EPS, Q1 2025 earnings at ($1.57) EPS, Q2 2025 earnings at ($1.58) EPS, Q3 2025 earnings at ($1.57) EPS, Q4 2025 earnings at ($1.14) EPS, FY2025 earnings at ($5.86) EPS, FY2026 earnings at ($4.91) EPS, FY2027 earnings at ($4.37) EPS and FY2028 earnings at ($0.47) EPS.

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

A number of other research firms have also issued reports on ARVN. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. Oppenheimer dropped their price objective on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday. HC Wainwright restated a “buy” rating and issued a $87.00 target price on shares of Arvinas in a research note on Thursday. Finally, Barclays lowered their target price on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.92.

Arvinas Trading Up 1.8 %

Shares of ARVN opened at $26.90 on Monday. Arvinas has a fifty-two week low of $14.02 and a fifty-two week high of $53.08. The firm has a 50-day simple moving average of $25.64 and a 200-day simple moving average of $27.75.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in Arvinas by 9.2% during 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 in the last quarter. Principal Financial Group Inc. raised its position in shares of Arvinas by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 13,307 shares of the company’s stock worth $549,000 after purchasing an additional 486 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Arvinas in the 1st quarter valued at approximately $44,000. SG Americas Securities LLC grew its holdings in Arvinas by 462.2% during the 1st quarter. SG Americas Securities LLC now owns 36,297 shares of the company’s stock valued at $1,498,000 after buying an additional 29,841 shares during the last quarter. Finally, Swiss National Bank increased 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 buying an additional 24,600 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.