Arvinas (NASDAQ:ARVN) Posts Earnings Results, Beats Expectations By $0.59 EPS

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

Arvinas Price Performance

Shares of ARVN traded down $0.73 during mid-day trading on Thursday, hitting $26.78. The company’s stock had a trading volume of 815,031 shares, compared to its average volume of 781,429. Arvinas has a fifty-two week low of $13.57 and a fifty-two week high of $53.08. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -4.53 and a beta of 1.98. The firm has a 50-day moving average price of $28.09 and a 200 day moving average price of $35.98.

Wall Street Analyst Weigh In

ARVN has been the topic of a number of recent research reports. Oppenheimer cut their target price on Arvinas from $70.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wedbush reissued an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research note on Tuesday. Wells Fargo & Company decreased their target price on shares of Arvinas from $63.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. HC Wainwright reaffirmed a “buy” rating and set a $87.00 price target on shares of Arvinas in a report on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.33.

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.