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

Arvinas, Inc. (NASDAQ:ARVN) – Equities researchers at Leerink Partnrs boosted their Q3 2024 earnings per share estimates for Arvinas in a report released on Tuesday, July 30th. Leerink Partnrs analyst A. Berens now anticipates that the company will earn ($0.34) per share for the quarter, up from their prior forecast 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.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company decreased their target price on Arvinas from $63.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. Barclays reduced their price objective on Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday. Oppenheimer reduced their price objective on Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday. Wedbush reissued an “outperform” rating and issued a $57.00 price objective on shares of Arvinas in a research report on Tuesday, July 30th. Finally, Stifel Nicolaus reduced their price objective on Arvinas from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

Arvinas Stock Down 3.5 %

Shares of Arvinas stock opened at $25.84 on Friday. The stock has a market capitalization of $1.77 billion, a P/E ratio of -4.36 and a beta of 1.98. The stock has a 50 day moving average price of $27.74 and a two-hundred day moving average price of $35.82. Arvinas has a 12-month low of $13.57 and a 12-month high of $53.08.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Great Point Partners LLC acquired a new position in Arvinas during the 4th quarter valued at about $9,635,000. Boxer Capital LLC acquired a new position in Arvinas in the fourth quarter valued at about $25,051,000. Charles Schwab Investment Management Inc. boosted its holdings in Arvinas by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 469,474 shares of the company’s stock worth $19,324,000 after buying an additional 39,484 shares during the last quarter. Rhenman & Partners Asset Management AB grew its position in shares of Arvinas by 58.0% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 134,270 shares of the company’s stock worth $5,527,000 after buying an additional 49,270 shares during the period. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in shares of Arvinas in the 4th quarter valued at approximately $2,506,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.

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.