Arvinas (NASDAQ:ARVN) Releases Earnings Results, Beats Expectations By $0.20 EPS

Arvinas (NASDAQ:ARVN) released its earnings results on Wednesday. The company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.20, Briefing.com reports. The company had revenue of $102.40 million during the quarter, compared to the consensus estimate of $60.56 million. During the same period last year, the firm posted ($1.18) EPS. The company’s revenue was up 196.0% on a year-over-year basis.

Arvinas Stock Performance

ARVN stock opened at $27.66 on Thursday. Arvinas has a fifty-two week low of $14.02 and a fifty-two week high of $53.08. The business’s 50 day moving average price is $25.53 and its two-hundred day moving average price is $27.85. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -4.66 and a beta of 1.97.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ARVN shares. Wedbush reissued an “outperform” rating and issued a $57.00 target price on shares of Arvinas in a research note on Tuesday, July 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Barclays lowered their price target on Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Oppenheimer lowered their price target on Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $87.00 price target on shares of Arvinas in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.69.

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.