Arvinas (NASDAQ:ARVN) Issues Quarterly Earnings Results, Beats Expectations By $0.44 EPS

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

Arvinas Trading Down 6.8 %

NASDAQ:ARVN opened at $17.68 on Wednesday. The company has a market cap of $1.21 billion, a P/E ratio of -3.79 and a beta of 1.88. Arvinas has a twelve month low of $16.61 and a twelve month high of $53.08. The company’s 50-day moving average price is $19.33 and its 200-day moving average price is $23.36.

Analysts Set New Price Targets

A number of research firms have recently commented on ARVN. Wedbush restated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research report on Tuesday. Guggenheim reaffirmed a “buy” rating on shares of Arvinas in a research note on Thursday, December 12th. Barclays decreased their target price on Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Stephens assumed coverage on shares of Arvinas in a report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $87.00 price objective on shares of Arvinas in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.