Arvinas (NASDAQ:ARVN) Issues Quarterly Earnings Results, Beats Expectations By $0.45 EPS

Arvinas (NASDAQ:ARVN) issued its earnings results on Tuesday. The company reported ($0.97) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.45, Briefing.com reports. The firm 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 revenue for the quarter was down 22.2% compared to the same quarter last year. During the same period last year, the firm posted ($1.54) earnings per share.

Arvinas Stock Down 1.3 %

ARVN stock opened at $31.95 on Friday. The firm has a 50 day moving average of $38.72 and a two-hundred day moving average of $35.53. Arvinas has a 12 month low of $13.57 and a 12 month high of $53.08. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -5.39 and a beta of 1.95.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ARVN shares. The Goldman Sachs Group began coverage on Arvinas in a report on Thursday, February 1st. They issued a “buy” rating and a $70.00 target price on the stock. Truist Financial reiterated a “buy” rating and issued a $65.00 target price on shares of Arvinas in a report on Monday, March 25th. Citigroup lowered shares of Arvinas from a “buy” rating to a “neutral” rating and boosted their price target for the company from $36.00 to $55.00 in a report on Wednesday, February 14th. 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 research note on Wednesday. Finally, Barclays lifted their price objective on shares of Arvinas from $26.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.13.

Insider Activity

In related news, CFO Sean A. Cassidy sold 1,702 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 181,916 shares in the company, valued at $8,559,147.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO John G. Houston sold 5,196 shares of the firm’s 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 transaction, the chief executive officer now directly owns 1,036,681 shares in the company, valued at approximately $48,775,841.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sean A. Cassidy sold 1,702 shares of Arvinas stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction of $80,079.10. Following the completion of the transaction, the chief financial officer now owns 181,916 shares in the company, valued at approximately $8,559,147.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,597 shares of company stock worth $404,489. 5.23% of the stock is 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.