Arvinas (NASDAQ:ARVN) Posts Quarterly Earnings Results

Arvinas (NASDAQ:ARVN) announced its quarterly earnings data on Tuesday. The company reported ($0.97) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.45, Briefing.com reports. Arvinas had a negative return on equity of 70.24% and a negative net margin of 185.09%. The company had revenue of $25.30 million for the quarter, compared to analysts’ expectations of $32.94 million. During the same quarter in the prior year, the business posted ($1.54) EPS. The business’s revenue was down 22.2% compared to the same quarter last year.

Arvinas Stock Up 6.4 %

Shares of ARVN stock opened at $34.33 on Wednesday. Arvinas has a twelve month low of $13.57 and a twelve month high of $53.08. The business has a fifty day simple moving average of $39.27 and a 200 day simple moving average of $35.57. The company has a market cap of $2.35 billion, a P/E ratio of -5.28 and a beta of 1.95.

Wall Street Analysts Forecast Growth

ARVN has been the topic of several analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $80.00 price target (down from $95.00) on shares of Arvinas in a research report on Wednesday, February 28th. The Goldman Sachs Group began coverage on Arvinas in a report on Thursday, February 1st. They set a “buy” rating and a $70.00 price target for the company. BMO Capital Markets raised their price objective on Arvinas from $89.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Citigroup downgraded Arvinas from a “buy” rating to a “neutral” rating and raised their price target for the company from $36.00 to $55.00 in a report on Wednesday, February 14th. Finally, Truist Financial restated a “buy” rating and set a $65.00 target price on shares of Arvinas in a research note on Monday, March 25th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Arvinas presently has a consensus rating of “Moderate Buy” and an average target price of $59.73.

Insiders Place Their Bets

In other news, CFO Sean A. Cassidy sold 1,702 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $80,079.10. Following the sale, the chief financial officer now directly owns 181,916 shares in the company, valued at approximately $8,559,147.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Sean A. Cassidy sold 1,702 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total value of $80,079.10. Following the completion of the transaction, the chief financial officer now directly owns 181,916 shares in the company, valued at approximately $8,559,147.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ronald Peck sold 1,699 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total value of $79,937.95. Following the sale, the insider now owns 67,516 shares in the company, valued at approximately $3,176,627.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,597 shares of company stock valued at $404,489. 5.23% of the stock is currently owned by corporate insiders.

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.