Arvinas, Inc. Forecasted to Earn FY2023 Earnings of ($3.85) Per Share (NASDAQ:ARVN)

Posted by on Jun 9th, 2022

Arvinas, Inc. (NASDAQ:ARVN – Get Rating) – Analysts at Cantor Fitzgerald issued their FY2023 earnings per share (EPS) estimates for Arvinas in a research report issued to clients and investors on Monday, June 6th. Cantor Fitzgerald analyst L. Watsek forecasts that the company will post earnings per share of ($3.85) for the year. Cantor Fitzgerald has a “Overweight” rating on the stock.

Arvinas (NASDAQ:ARVN – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.29). The business had revenue of $24.20 million for the quarter, compared to analysts’ expectations of $25.51 million. Arvinas had a negative return on equity of 29.38% and a negative net margin of 326.72%. Arvinas’s revenue was up 340.0% compared to the same quarter last year.

ARVN has been the subject of several other reports. Wedbush downgraded Arvinas from an “outperform” rating to a “neutral” rating and set a $43.00 price target for the company. in a research note on Monday, May 9th. The Goldman Sachs Group dropped their price objective on Arvinas from $111.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, May 24th. Piper Sandler reduced their price objective on Arvinas from $116.00 to $76.00 and set an “overweight” rating for the company in a research note on Monday, May 23rd. Wells Fargo & Company assumed coverage on Arvinas in a research report on Thursday, February 10th. They set an “overweight” rating and a $98.00 price target for the company. Finally, Credit Suisse Group initiated coverage on Arvinas in a research report on Thursday, April 28th. They issued an “outperform” rating and a $104.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $99.35.

ARVN opened at $44.76 on Thursday. Arvinas has a 1 year low of $37.41 and a 1 year high of $108.46. The stock has a 50-day moving average price of $53.57 and a 200-day moving average price of $64.76. The firm has a market cap of $2.38 billion, a PE ratio of -10.73 and a beta of 2.07.

In related news, CFO Sean A. Cassidy sold 15,000 shares of Arvinas stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $70.00, for a total value of $1,050,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Briggs Morrison sold 20,960 shares of Arvinas stock in a transaction dated Thursday, April 14th. The shares were sold at an average price of $66.44, for a total value of $1,392,582.40. Following the completion of the transaction, the director now directly owns 19,976 shares of the company’s stock, valued at $1,327,205.44. The disclosure for this sale can be found here. Company insiders own 2.78% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley raised its stake in shares of Arvinas by 208.5% during the 2nd quarter. Morgan Stanley now owns 753,343 shares of the company’s stock worth $58,008,000 after purchasing an additional 509,173 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in shares of Arvinas by 142.7% during the 3rd quarter. Advisor Group Holdings Inc. now owns 415 shares of the company’s stock worth $34,000 after buying an additional 244 shares during the last quarter. Credit Suisse AG lifted its position in shares of Arvinas by 0.6% during the 3rd quarter. Credit Suisse AG now owns 30,888 shares of the company’s stock worth $2,538,000 after buying an additional 193 shares during the last quarter. Natixis bought a new stake in shares of Arvinas during the 3rd quarter worth $1,939,000. Finally, Profund Advisors LLC lifted its position in shares of Arvinas by 9.0% during the 3rd quarter. Profund Advisors LLC now owns 4,021 shares of the company’s stock worth $330,000 after buying an additional 331 shares during the last quarter. Hedge funds and other institutional investors own 84.52% of the company’s stock.

Arvinas Company Profile (Get Rating)

Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.

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