Arvinas (NASDAQ:ARVN) Releases Earnings Results, Beats Estimates By $0.44 EPS

Arvinas (NASDAQ:ARVN) posted its quarterly earnings data on Tuesday. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.44, Zacks reports. During the same quarter in the prior year, the business posted ($2.53) EPS.

Arvinas Price Performance

NASDAQ:ARVN opened at $17.68 on Wednesday. The firm has a market capitalization of $1.21 billion, a P/E ratio of -3.79 and a beta of 1.88. The company’s fifty day moving average price is $19.33 and its 200-day moving average price is $23.36. Arvinas has a 1-year low of $16.61 and a 1-year high of $53.08.

Analyst Upgrades and Downgrades

ARVN has been the topic of several analyst reports. Barclays cut their price target on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. HC Wainwright reaffirmed a “buy” rating and set a $87.00 target price on shares of Arvinas in a research report on Wednesday, December 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. BMO Capital Markets dropped their price target on Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Finally, Stephens began coverage on shares of Arvinas in a research report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price objective for the company. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.45.

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.