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

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

Arvinas Stock Up 1.4 %

ARVN stock opened at $18.97 on Tuesday. The stock’s 50 day moving average price is $19.46 and its 200 day moving average price is $23.44. Arvinas has a 1 year low of $16.61 and a 1 year high of $53.08.

Analysts Set New Price Targets

Several research firms have recently commented on ARVN. BTIG Research assumed coverage on Arvinas in a report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price target for the company. Stephens initiated coverage on Arvinas in a report on Monday, November 18th. They issued an “overweight” rating and a $55.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research note on Friday. HC Wainwright reiterated a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research note on Wednesday, December 11th. Finally, Oppenheimer lowered their target price on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.45.

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.