Arvinas (NASDAQ:ARVN) Releases Quarterly Earnings Results

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

Arvinas Trading Down 2.7 %

ARVN stock opened at $26.78 on Friday. The firm has a 50 day moving average of $28.09 and a 200-day moving average of $35.98. Arvinas has a 12-month low of $13.57 and a 12-month high of $53.08. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -4.52 and a beta of 1.98.

Wall Street Analyst Weigh In

ARVN has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Wednesday. HC Wainwright restated a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research note on Thursday. Wells Fargo & Company decreased their price objective on shares of Arvinas from $63.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Oppenheimer decreased their price objective on shares of Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Stifel Nicolaus decreased their price objective on shares of Arvinas from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average 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.