Analysts Set Expectations for Arvinas, Inc.’s Q3 2024 Earnings (NASDAQ:ARVN)

Arvinas, Inc. (NASDAQ:ARVN) – Research analysts at Leerink Partnrs lifted their Q3 2024 EPS estimates for shares of Arvinas in a research note issued on Tuesday, July 30th. Leerink Partnrs analyst A. Berens now expects that the company will post earnings of ($0.34) per share for the quarter, up from their prior estimate of ($1.24). The consensus estimate for Arvinas’ current full-year earnings is ($3.67) per share. Leerink Partnrs also issued estimates for Arvinas’ Q4 2024 earnings at ($0.48) EPS, FY2024 earnings at ($2.27) EPS, FY2025 earnings at ($3.02) EPS, FY2026 earnings at ($2.97) EPS and FY2027 earnings at $1.34 EPS.

Several other equities research analysts also recently weighed in on ARVN. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research note on Wednesday. Oppenheimer lowered their price objective on shares of Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday. 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. HC Wainwright reiterated a “buy” rating and set a $87.00 price objective on shares of Arvinas in a research note on Thursday. Finally, Wedbush reiterated an “outperform” rating and set a $57.00 price objective on shares of Arvinas in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $58.33.

Arvinas Price Performance

Shares of ARVN stock opened at $25.84 on Friday. The company’s 50-day simple moving average is $27.74 and its two-hundred day simple moving average is $35.82. Arvinas has a one year low of $13.57 and a one year high of $53.08. The company has a market capitalization of $1.77 billion, a P/E ratio of -4.36 and a beta of 1.98.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, July 30th. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.59. The business had revenue of $76.50 million during the quarter, compared to the consensus estimate of $33.27 million. The business’s quarterly revenue was up 40.4% on a year-over-year basis. During the same quarter last year, the firm earned ($1.25) earnings per share.

Institutional Trading of Arvinas

A number of institutional investors and hedge funds have recently modified their holdings of the stock. American International Group Inc. increased its stake in shares of Arvinas by 1.8% during the first quarter. American International Group Inc. now owns 24,857 shares of the company’s stock worth $1,026,000 after purchasing an additional 449 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Arvinas by 3.8% during the first quarter. Principal Financial Group Inc. now owns 13,307 shares of the company’s stock worth $549,000 after purchasing an additional 486 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Arvinas during the first quarter worth about $44,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Arvinas by 21.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,033 shares of the company’s stock worth $372,000 after purchasing an additional 1,611 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

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.