FY2024 EPS Estimates for Arvinas Reduced by Leerink Partnrs

Arvinas, Inc. (NASDAQ:ARVN - Free Report) - Investment analysts at Leerink Partnrs dropped their FY2024 earnings per share estimates for Arvinas in a research report issued to clients and investors on Thursday, October 31st. Leerink Partnrs analyst A. Berens now forecasts that the company will earn ($2.70) per share for the year, down from their prior forecast of ($2.27). The consensus estimate for Arvinas' current full-year earnings is ($3.51) per share. Leerink Partnrs also issued estimates for Arvinas' Q4 2024 earnings at ($0.56) EPS, FY2025 earnings at ($2.85) EPS, FY2026 earnings at ($2.59) EPS and FY2027 earnings at $1.64 EPS.

ARVN has been the topic of several other research reports. Oppenheimer reduced 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. HC Wainwright reiterated a "buy" rating and issued a $87.00 price target on shares of Arvinas in a report on Thursday. Barclays reduced their price objective on Arvinas from $60.00 to $48.00 and set an "overweight" rating on the stock in a report on Wednesday, July 31st. Cantor Fitzgerald reiterated an "overweight" rating on shares of Arvinas in a report on Monday, September 9th. Finally, Wedbush restated an "outperform" rating and set a $57.00 price target on shares of Arvinas in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Arvinas currently has a consensus rating of "Moderate Buy" and an average price target of $56.92.

Arvinas Stock Performance

Arvinas stock traded down $0.10 during mid-day trading on Monday, hitting $26.80. The company's stock had a trading volume of 448,047 shares, compared to its average volume of 718,241. Arvinas has a one year low of $14.02 and a one year high of $53.08. The stock has a market cap of $1.84 billion, a PE ratio of -5.84 and a beta of 1.96. The company has a 50 day moving average of $25.64 and a 200-day moving average of $27.71.

Arvinas (NASDAQ:ARVN - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating analysts' consensus estimates of ($0.88) by $0.20. The business had revenue of $102.40 million for the quarter, compared to the consensus estimate of $60.56 million. During the same period in the prior year, the company posted ($1.18) EPS. The company's quarterly revenue was up 196.0% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARVN. Vanguard Group Inc. increased its holdings in shares of Arvinas by 29.9% during the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company's stock valued at $260,046,000 after acquiring an additional 1,448,166 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Arvinas by 14.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company's stock worth $180,329,000 after buying an additional 536,295 shares during the period. Candriam S.C.A. grew its holdings in shares of Arvinas by 32.0% during the second quarter. Candriam S.C.A. now owns 610,458 shares of the company's stock valued at $16,250,000 after buying an additional 147,904 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Arvinas in the 3rd quarter worth $3,442,000. Finally, Panagora Asset Management Inc. lifted its position 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 acquiring an additional 93,568 shares during the period. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

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.