Wedbush Weighs in on Arvinas’ FY2029 Earnings (NASDAQ:ARVN)

Arvinas, Inc. (NASDAQ:ARVN) – Investment analysts at Wedbush issued their FY2029 EPS estimates for Arvinas in a research note issued to investors on Tuesday, February 11th. Wedbush analyst R. Driscoll expects that the company will post earnings per share of ($1.15) for the year. Wedbush currently has a “Outperform” rating and a $57.00 target price on the stock. The consensus estimate for Arvinas’ current full-year earnings is ($3.22) per share.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research report on Friday, February 7th. Stephens assumed coverage on Arvinas in a report on Monday, November 18th. They issued an “overweight” rating and a $55.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $87.00 target price on shares of Arvinas in a report on Wednesday, December 11th. BTIG Research started coverage on shares of Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 price target on the stock. Finally, Oppenheimer upped their price objective on Arvinas from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Arvinas has a consensus rating of “Moderate Buy” and a consensus price target of $59.58.

Arvinas Price Performance

Shares of NASDAQ:ARVN opened at $18.01 on Thursday. Arvinas has a 1-year low of $16.61 and a 1-year high of $53.08. The business has a fifty day moving average price of $19.18 and a 200-day moving average price of $23.32. The company has a market capitalization of $1.24 billion, a PE ratio of -3.86 and a beta of 1.88.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.44. During the same period in the previous year, the firm posted ($2.53) EPS.

Institutional Investors Weigh In On Arvinas

A number of institutional investors have recently added to or reduced their stakes in ARVN. Norges Bank bought a new position in shares of Arvinas during the fourth quarter worth $23,845,000. Braidwell LP lifted its stake in Arvinas by 148.3% in the 3rd quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock worth $31,637,000 after purchasing an additional 767,242 shares in the last quarter. Baker BROS. Advisors LP bought a new position in shares of Arvinas during the 3rd quarter valued at about $9,989,000. JPMorgan Chase & Co. grew its position in shares of Arvinas by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after purchasing an additional 367,343 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Arvinas by 7.6% in the third quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after purchasing an additional 204,317 shares during the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

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.