Arvinas (NASDAQ:ARVN) Issues Earnings Results

Arvinas (NASDAQ:ARVN) announced its earnings results 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. The company had revenue of $25.30 million during the quarter, compared to analysts’ expectations of $32.94 million. Arvinas had a negative net margin of 185.09% and a negative return on equity of 70.24%. The firm’s quarterly revenue was down 22.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.54) earnings per share.

Arvinas Stock Performance

NASDAQ ARVN opened at $34.33 on Wednesday. Arvinas has a 52-week low of $13.57 and a 52-week high of $53.08. The firm has a 50-day moving average of $39.27 and a 200-day moving average of $35.57. The stock has a market cap of $2.35 billion, a PE ratio of -5.28 and a beta of 1.95.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ARVN shares. Barclays increased their price target on Arvinas from $26.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. HC Wainwright lowered their price objective on Arvinas from $90.00 to $87.00 and set a “buy” rating for the company in a report on Friday, April 12th. The Goldman Sachs Group initiated coverage on shares of Arvinas in a research report on Thursday, February 1st. They issued a “buy” rating and a $70.00 price target on the stock. Oppenheimer restated an “outperform” rating and set a $80.00 price objective (down previously from $95.00) on shares of Arvinas in a research report on Wednesday, February 28th. Finally, BMO Capital Markets raised their price target on shares of Arvinas from $89.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.73.

Insiders Place Their Bets

In related news, insider Ronald Peck sold 1,699 shares of the company’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 transaction of $79,937.95. Following the completion of the transaction, the insider now directly owns 67,516 shares in the company, valued at approximately $3,176,627.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Arvinas news, CEO John G. Houston sold 5,196 shares of Arvinas stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $244,471.80. Following the completion of the sale, the chief executive officer now directly owns 1,036,681 shares of the company’s stock, valued at $48,775,841.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ronald Peck sold 1,699 shares of the business’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 $79,937.95. Following the sale, the insider now owns 67,516 shares of the company’s stock, valued at approximately $3,176,627.80. The disclosure for this sale can be found here. Insiders sold 8,597 shares of company stock worth $404,489 in the last quarter. 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.