Arvinas (NASDAQ:ARVN) Releases Earnings Results, Beats Estimates By $0.59 EPS

Arvinas (NASDAQ:ARVN) issued its earnings results on Tuesday. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.59, Briefing.com reports. The company had revenue of $76.50 million for the quarter, compared to the consensus estimate of $33.27 million. During the same quarter in the prior year, the company posted ($1.25) EPS. Arvinas’s revenue was up 40.4% compared to the same quarter last year.

Arvinas Trading Down 2.7 %

Shares of ARVN opened at $26.78 on Friday. Arvinas has a 12 month low of $13.57 and a 12 month high of $53.08. The stock has a fifty day moving average price of $28.09 and a 200-day moving average price of $35.98. The firm has a market cap of $1.83 billion, a PE ratio of -4.52 and a beta of 1.98.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ARVN shares. Stifel Nicolaus decreased their price target on shares of Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $57.00 price target on shares of Arvinas in a research note on Tuesday. Wells Fargo & Company decreased their price target on shares of Arvinas from $63.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Finally, Oppenheimer decreased their price target on shares of Arvinas from $70.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.