Wedbush Weighs in on Arvinas’ FY2024 Earnings (NASDAQ:ARVN)

Arvinas, Inc. (NASDAQ:ARVN) – Wedbush cut their FY2024 earnings per share (EPS) estimates for Arvinas in a report issued on Wednesday, October 30th. Wedbush analyst R. Driscoll now expects that the company will post earnings per share of ($3.69) for the year, down from their prior estimate of ($2.70). Wedbush has a “Outperform” rating and a $57.00 price target 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 announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates 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. During the same quarter in the previous year, the business posted ($1.18) EPS. The business’s quarterly revenue was up 196.0% compared to the same quarter last year.

ARVN has been the topic of a number of other research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Barclays reduced their target price on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. HC Wainwright restated a “buy” rating and issued a $87.00 target price on shares of Arvinas in a research report on Thursday, October 31st. Finally, Oppenheimer reduced their target price on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.92.

Arvinas Stock Performance

Shares of Arvinas stock opened at $26.80 on Monday. Arvinas has a one year low of $14.02 and a one year high of $53.08. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -5.84 and a beta of 1.96. The business’s 50 day moving average price is $25.64 and its 200 day moving average price is $27.71.

Institutional Investors Weigh In On Arvinas

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Arvinas by 29.9% during the 1st quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock worth $260,046,000 after purchasing an additional 1,448,166 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Arvinas by 14.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock worth $180,329,000 after purchasing an additional 536,295 shares during the period. Candriam S.C.A. increased its holdings in Arvinas by 32.0% during the 2nd quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock worth $16,250,000 after purchasing an additional 147,904 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Arvinas during the 3rd quarter worth about $3,442,000. Finally, Panagora Asset Management Inc. increased its holdings in Arvinas by 57.4% during 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 during the period. 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.