SVB Leerink Weighs in on Arvinas, Inc.’s FY2024 Earnings (NASDAQ:ARVN)

Arvinas, Inc. (NASDAQ:ARVNGet Rating) – Equities researchers at SVB Leerink lowered their FY2024 earnings per share estimates for shares of Arvinas in a research report issued on Tuesday, November 22nd. SVB Leerink analyst C. Liu now forecasts that the company will post earnings of ($7.85) per share for the year, down from their prior estimate of ($7.49). SVB Leerink currently has a “Outperform” rating and a $74.00 price target on the stock. The consensus estimate for Arvinas’ current full-year earnings is ($4.67) per share. SVB Leerink also issued estimates for Arvinas’ FY2025 earnings at ($10.00) EPS and FY2026 earnings at ($7.95) EPS.

Arvinas (NASDAQ:ARVNGet Rating) last announced its quarterly earnings data on Tuesday, November 8th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.26). The company had revenue of $30.30 million for the quarter, compared to the consensus estimate of $44.20 million. Arvinas had a negative net margin of 225.34% and a negative return on equity of 36.12%.

A number of other research analysts have also recently commented on the company. Truist Financial lowered their price target on Arvinas from $170.00 to $100.00 in a report on Wednesday. Citigroup lowered their price target on Arvinas from $103.00 to $88.00 in a report on Thursday, August 18th. Capital One Financial assumed coverage on Arvinas in a report on Tuesday, October 25th. They issued an “overweight” rating on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $80.00 price target on shares of Arvinas in a report on Tuesday, October 18th. Finally, Morgan Stanley lowered their price target on Arvinas from $63.00 to $57.00 and set an “equal weight” rating on the stock in a report on Friday, November 11th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $79.19.

Arvinas Trading Down 2.8 %

Shares of NASDAQ:ARVN opened at $39.56 on Thursday. The stock has a 50 day moving average of $45.35 and a 200 day moving average of $45.79. The company has a market cap of $2.11 billion, a PE ratio of -8.31 and a beta of 1.89. Arvinas has a 12-month low of $34.90 and a 12-month high of $83.40.

Institutional Investors Weigh In On Arvinas

Hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Arvinas during the second quarter worth about $645,000. JPMorgan Chase & Co. grew its stake in shares of Arvinas by 14.9% in the second quarter. JPMorgan Chase & Co. now owns 2,160,597 shares of the company’s stock valued at $90,941,000 after buying an additional 280,691 shares in the last quarter. SG Americas Securities LLC grew its stake in Arvinas by 1,131.3% during the 2nd quarter. SG Americas Securities LLC now owns 30,315 shares of the company’s stock worth $1,276,000 after purchasing an additional 27,853 shares in the last quarter. Brown Advisory Inc. acquired a new position in shares of Arvinas during the 2nd quarter worth about $12,133,000. Finally, Walleye Capital LLC purchased a new stake in shares of Arvinas in the 2nd quarter valued at about $2,606,000. 91.20% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Company Profile

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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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Earnings History and Estimates for Arvinas (NASDAQ:ARVN)

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