Wedbush Reaffirms Outperform Rating for Arvinas (NASDAQ:ARVN)

Wedbush reiterated their outperform rating on shares of Arvinas (NASDAQ:ARVN) in a research report released on Tuesday, MarketBeat reports. They currently have a $57.00 target price on the stock. Wedbush also issued estimates for Arvinas’ Q3 2024 earnings at ($0.68) EPS, Q4 2024 earnings at ($0.56) EPS, FY2024 earnings at ($2.70) EPS, Q1 2025 earnings at ($1.14) EPS, Q2 2025 earnings at ($1.15) EPS, Q3 2025 earnings at ($0.93) EPS, Q4 2025 earnings at ($0.68) EPS and FY2025 earnings at ($3.90) EPS.

ARVN has been the topic of several other research reports. HC Wainwright reiterated a buy rating and issued a $87.00 target price on shares of Arvinas in a research note on Friday, May 17th. Wells Fargo & Company cut their target price on Arvinas from $63.00 to $60.00 and set an overweight rating on the stock in a research note on Thursday, May 9th. Finally, Stifel Nicolaus dropped their price target on Arvinas from $72.00 to $68.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Arvinas currently has an average rating of Moderate Buy and an average target price of $58.33.

Arvinas Price Performance

ARVN stock opened at $25.84 on Tuesday. The business has a 50-day moving average price of $27.92 and a 200 day moving average price of $35.91. The company has a market capitalization of $1.77 billion, a P/E ratio of -4.36 and a beta of 1.98. Arvinas has a 1-year low of $13.57 and a 1-year high of $53.08.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, July 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.08) by $0.59. The company had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $33.27 million. During the same quarter last year, the firm earned ($1.25) EPS. Arvinas’s revenue for the quarter was up 40.4% on a year-over-year basis. On average, analysts anticipate that Arvinas will post -4.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arvinas

A number of large investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in Arvinas by 26.7% in the second quarter. Rhumbline Advisers now owns 90,229 shares of the company’s stock valued at $2,402,000 after acquiring an additional 19,024 shares during the period. Panagora Asset Management Inc. lifted its holdings in Arvinas by 57.4% in the second quarter. Panagora Asset Management Inc. now owns 256,658 shares of the company’s stock valued at $6,832,000 after acquiring an additional 93,568 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Arvinas by 30.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,062 shares of the company’s stock valued at $268,000 after acquiring an additional 2,363 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Arvinas by 13.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 14,298 shares of the company’s stock valued at $381,000 after acquiring an additional 1,728 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Arvinas by 32.6% in the second quarter. Bank of New York Mellon Corp now owns 235,096 shares of the company’s stock valued at $6,258,000 after acquiring an additional 57,835 shares during the period. 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.