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

Arvinas (NASDAQ:ARVN) issued its quarterly earnings results on Tuesday. The company reported ($0.97) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.45, Briefing.com reports. The firm had revenue of $25.30 million for the quarter, compared to analysts’ expectations of $32.94 million. Arvinas had a negative return on equity of 70.24% and a negative net margin of 185.09%. The firm’s revenue for the quarter was down 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.54) EPS.

Arvinas Price Performance

Shares of NASDAQ ARVN opened at $34.33 on Wednesday. Arvinas has a 1-year low of $13.57 and a 1-year high of $53.08. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -5.28 and a beta of 1.95. The business has a 50-day moving average of $39.27 and a 200-day moving average of $35.57.

Analyst Ratings Changes

ARVN has been the subject of a number of research analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $80.00 price target (down previously from $95.00) on shares of Arvinas in a report on Wednesday, February 28th. 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 report on Thursday, February 29th. BMO Capital Markets upped their price target on Arvinas from $89.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Citigroup cut Arvinas from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $36.00 to $55.00 in a report on Wednesday, February 14th. Finally, HC Wainwright restated a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.73.

Insider Buying and Selling

In related news, CFO Sean A. Cassidy sold 1,702 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 transaction of $80,079.10. Following the sale, the chief financial officer now owns 181,916 shares of the company’s stock, valued at approximately $8,559,147.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Arvinas news, CFO Sean A. Cassidy sold 1,702 shares of the company’s stock in a transaction that occurred 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 directly owns 181,916 shares of the company’s stock, valued at approximately $8,559,147.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ronald Peck sold 1,699 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction of $79,937.95. Following the sale, the insider now directly 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. In the last ninety days, insiders have sold 8,597 shares of company stock valued at $404,489. Corporate insiders own 5.23% of the company’s stock.

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.