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

Arvinas, Inc. (NASDAQ:ARVN) – Research analysts at Wedbush cut their FY2024 EPS estimates for Arvinas in a note issued to investors on Wednesday, October 30th. Wedbush analyst R. Driscoll now forecasts that the company will post earnings of ($3.69) per share for the year, down from their prior forecast 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.

Several other research analysts have also weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $87.00 price objective on shares of Arvinas in a report on Thursday. Oppenheimer cut their price target on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday. Barclays lowered their price objective on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.92.

Arvinas Price Performance

Shares of NASDAQ:ARVN opened at $26.90 on Monday. The stock’s 50-day moving average price is $25.64 and its two-hundred day moving average price is $27.75. Arvinas has a 12-month low of $14.02 and a 12-month high of $53.08.

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

Hedge Funds Weigh In On Arvinas

Several large investors have recently modified their holdings of ARVN. Mirae Asset Global Investments Co. Ltd. raised its stake in Arvinas by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after buying an additional 440 shares in the last quarter. American International Group Inc. increased its holdings in shares of Arvinas by 1.8% in the 1st quarter. American International Group Inc. now owns 24,857 shares of the company’s stock valued at $1,026,000 after acquiring an additional 449 shares during 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 valued at $549,000 after acquiring an additional 486 shares in the last quarter. Amalgamated Bank lifted its stake in Arvinas by 29.6% during the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after purchasing an additional 508 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Arvinas by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,570 shares of the company’s stock worth $519,000 after purchasing an additional 1,060 shares during the last quarter. 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.