Arvinas, Inc. (NASDAQ:ARVN) to Post Q2 2024 Earnings of $1.09 Per Share, HC Wainwright Forecasts

Arvinas, Inc. (NASDAQ:ARVN - Free Report) - Equities researchers at HC Wainwright lowered their Q2 2024 earnings per share estimates for Arvinas in a research report issued on Wednesday, May 8th. HC Wainwright analyst A. Fein now anticipates that the company will post earnings of $1.09 per share for the quarter, down from their prior estimate of $1.10. HC Wainwright has a "Buy" rating and a $87.00 price objective on the stock. The consensus estimate for Arvinas' current full-year earnings is ($5.02) per share. HC Wainwright also issued estimates for Arvinas' Q3 2024 earnings at ($0.87) EPS, Q4 2024 earnings at ($0.93) EPS, FY2024 earnings at ($1.69) EPS, FY2025 earnings at ($2.28) EPS, FY2026 earnings at ($3.20) EPS, FY2027 earnings at ($1.70) EPS and FY2028 earnings at $4.29 EPS.

Other research analysts have also recently issued research reports about the company. Wedbush reissued an "outperform" rating and issued a $57.00 target price on shares of Arvinas in a research note on Wednesday. Truist Financial restated a "buy" rating and set a $65.00 price target on shares of Arvinas in a report on Monday, March 25th. Oppenheimer reiterated an "outperform" rating and issued a $80.00 price objective (down from $95.00) on shares of Arvinas in a report on Wednesday, February 28th. Leerink Partnrs reiterated an "outperform" rating on shares of Arvinas in a research report on Thursday, February 22nd. Finally, The Goldman Sachs Group started coverage on shares of Arvinas in a research report on Thursday, February 1st. They set a "buy" rating and a $70.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $61.13.

Arvinas Price Performance

Shares of NASDAQ:ARVN traded down $0.51 during trading on Friday, hitting $31.44. 567,898 shares of the company were exchanged, compared to its average volume of 718,173. The stock has a 50 day moving average of $38.72 and a 200 day moving average of $35.53. The company has a market cap of $2.15 billion, a PE ratio of -5.30 and a beta of 1.95. Arvinas has a 52-week low of $13.57 and a 52-week high of $53.08.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.97) EPS for the quarter, topping analysts' consensus estimates of ($1.42) by $0.45. Arvinas had a negative return on equity of 70.24% and a negative net margin of 185.09%. The business had revenue of $25.30 million for the quarter, compared to analyst estimates of $32.94 million. During the same period last year, the company posted ($1.54) earnings per share. Arvinas's quarterly revenue was down 22.2% compared to the same quarter last year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its stake in shares of Arvinas by 96.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,374 shares of the company's stock worth $27,000 after acquiring an additional 674 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Arvinas during the first quarter worth $44,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Arvinas during the fourth quarter worth about $75,000. Headlands Technologies LLC raised its stake in shares of Arvinas by 393.4% during the fourth quarter. Headlands Technologies LLC now owns 2,388 shares of the company's stock valued at $98,000 after acquiring an additional 1,904 shares during the last quarter. Finally, Sectoral Asset Management Inc. lifted its stake in shares of Arvinas by 13.5% in the third quarter. Sectoral Asset Management Inc. now owns 7,010 shares of the company's stock worth $138,000 after acquiring an additional 835 shares during the period. Institutional investors and hedge funds own 95.19% of the company's stock.

Insider Buying and Selling

In related news, CFO Sean A. Cassidy sold 1,702 shares of the business's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $80,079.10. Following the completion of the sale, the chief financial officer now owns 181,916 shares of the company's stock, valued at approximately $8,559,147.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Arvinas news, insider Ronald Peck sold 1,699 shares of Arvinas stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $79,937.95. Following the completion of the sale, the insider now directly owns 67,516 shares in the company, valued at $3,176,627.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sean A. Cassidy sold 1,702 shares of the company's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total value of $80,079.10. Following the transaction, the chief financial officer now owns 181,916 shares of the company's stock, valued at $8,559,147.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,597 shares of company stock valued at $404,489. Corporate insiders own 5.23% of the company's stock.

About Arvinas

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.