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

Arvinas, Inc. (NASDAQ:ARVN) – Investment analysts at Wedbush issued their FY2029 earnings per share estimates for shares of Arvinas in a research note issued to investors on Tuesday, February 11th. Wedbush analyst R. Driscoll forecasts that the company will post earnings of ($1.15) per share 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.

Several other research analysts also recently issued reports on the company. BTIG Research started coverage on Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 price target for the company. Guggenheim reiterated a “buy” rating and set a $57.00 price objective on shares of Arvinas in a research report on Wednesday. Stifel Nicolaus dropped their price objective on Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research report on Friday, February 7th. Finally, Stephens began coverage on Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 price objective for the company. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Arvinas presently has an average rating of “Buy” and a consensus price target of $60.00.

Arvinas Stock Up 3.6 %

NASDAQ:ARVN opened at $18.31 on Thursday. The company has a market capitalization of $1.26 billion, a PE ratio of -3.92 and a beta of 1.88. Arvinas has a 52-week low of $16.61 and a 52-week high of $53.08. The stock has a fifty day simple moving average of $18.88 and a 200-day simple moving average of $23.22.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.44. During the same period last year, the company posted ($2.53) EPS.

Institutional Trading of Arvinas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in Arvinas by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after buying an additional 367,343 shares during the period. Baker BROS. Advisors LP purchased a new stake in shares of Arvinas during the 3rd quarter worth about $9,989,000. SG Americas Securities LLC grew its holdings in shares of Arvinas by 228.8% during the 4th quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock worth $622,000 after purchasing an additional 22,564 shares during the period. Wasatch Advisors LP grew its holdings in shares of Arvinas by 58.3% during the 3rd quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock worth $10,737,000 after purchasing an additional 160,510 shares during the period. Finally, Barclays PLC grew its holdings in shares of Arvinas by 198.9% during the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after purchasing an additional 80,984 shares during the period. Hedge funds and other institutional investors own 95.19% 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.