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

Arvinas (NASDAQ:ARVN) posted its quarterly earnings data on Tuesday. The company reported ($0.97) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.45, Briefing.com reports. The business had revenue of $25.30 million for 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 was down 22.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.54) EPS.

Arvinas Price Performance

NASDAQ:ARVN opened at $34.33 on Wednesday. The firm’s fifty day moving average price is $39.27 and its two-hundred day moving average price is $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. Arvinas has a one year low of $13.57 and a one year high of $53.08.

Analyst Upgrades and Downgrades

ARVN has been the topic of a number of research reports. Truist Financial restated a “buy” rating and issued a $65.00 price target on shares of Arvinas in a report on Monday, March 25th. Citigroup downgraded Arvinas from a “buy” rating to a “neutral” rating and upped their price target for the stock from $36.00 to $55.00 in a research report on Wednesday, February 14th. The Goldman Sachs Group assumed coverage on shares of Arvinas in a research report on Thursday, February 1st. They issued a “buy” rating and a $70.00 price objective on the stock. Barclays lifted their price target on shares of Arvinas from $26.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, Oppenheimer restated an “outperform” rating and issued a $80.00 price objective (down previously from $95.00) on shares of Arvinas in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Arvinas presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.73.

Insider Buying and Selling

In other Arvinas news, CEO John G. Houston sold 5,196 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $48,775,841.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Arvinas news, CEO John G. Houston sold 5,196 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 $244,471.80. Following the transaction, the chief executive officer now directly owns 1,036,681 shares of the company’s stock, valued at approximately $48,775,841.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 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 sold 8,597 shares of company stock valued at $404,489. Company insiders own 5.23% of the company’s stock.

Arvinas Company Profile

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.