Arvinas (NASDAQ:ARVN) Issues Earnings Results

Arvinas (NASDAQ:ARVN) released its quarterly earnings results on Tuesday. The company reported ($0.97) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $32.94 million. During the same quarter in the prior year, the business posted ($1.54) earnings per share. The company’s revenue for the quarter was down 22.2% compared to the same quarter last year.

Arvinas Stock Performance

Shares of ARVN stock opened at $32.37 on Thursday. The stock’s 50 day simple moving average is $39.00 and its 200 day simple moving average is $35.55. Arvinas has a twelve month low of $13.57 and a twelve month high of $53.08. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -4.98 and a beta of 1.95.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ARVN. Barclays increased their target price on shares of Arvinas from $26.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Stifel Nicolaus decreased their price objective on shares of Arvinas from $72.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday. Oppenheimer reiterated an “outperform” rating and set a $80.00 price objective (down previously from $95.00) on shares of Arvinas in a research note on Wednesday, February 28th. Leerink Partnrs restated an “outperform” rating on shares of Arvinas in a research report on Thursday, February 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $57.00 price target on shares of Arvinas in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.33.

Insiders Place Their Bets

In other Arvinas news, CEO John G. Houston sold 5,196 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $244,471.80. Following the completion of the transaction, the chief executive officer now owns 1,036,681 shares of the company’s stock, valued at approximately $48,775,841.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Ronald Peck sold 1,699 shares of the company’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 completion of the transaction, the insider now directly owns 67,516 shares in the company, valued at $3,176,627.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John G. Houston sold 5,196 shares of the firm’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 $244,471.80. Following the completion of the transaction, the chief executive officer now directly owns 1,036,681 shares of the company’s stock, valued at $48,775,841.05. The disclosure for this sale can be found here. Insiders sold 8,597 shares of company stock valued at $404,489 over the last 90 days. 5.23% of the stock is currently owned by company 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.