Arvinas (NASDAQ:ARVN) Issues Earnings Results, Beats Estimates By $2.07 EPS

Arvinas (NASDAQ:ARVN - Get Free Report) released its earnings results on Thursday. The company reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of ($0.93) by $2.07, Zacks reports. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period in the prior year, the company earned ($0.97) earnings per share. The company's revenue was up 646.2% compared to the same quarter last year.

Arvinas Stock Down 1.2 %

Shares of ARVN traded down $0.09 during mid-day trading on Monday, hitting $7.63. 3,536,211 shares of the company's stock were exchanged, compared to its average volume of 1,260,172. The firm has a market cap of $556.92 million, a price-to-earnings ratio of -2.75 and a beta of 2.21. The stock's 50-day simple moving average is $9.47 and its 200-day simple moving average is $17.23. Arvinas has a 52 week low of $5.94 and a 52 week high of $37.38.

Insider Buying and Selling

In other news, insider Ian Taylor sold 9,020 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.71, for a total transaction of $150,724.20. Following the completion of the sale, the insider now owns 159,121 shares of the company's stock, valued at approximately $2,658,911.91. This represents a 5.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Noah Berkowitz sold 8,658 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total transaction of $74,372.22. Following the sale, the insider now owns 110,023 shares in the company, valued at $945,097.57. This represents a 7.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,230 shares of company stock valued at $769,402 over the last 90 days. 5.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ARVN shares. Piper Sandler reiterated an "overweight" rating and set a $14.00 target price (down previously from $24.00) on shares of Arvinas in a report on Friday. Barclays dropped their price target on shares of Arvinas from $32.00 to $16.00 and set an "overweight" rating on the stock in a research report on Friday. TD Cowen downgraded shares of Arvinas from a "buy" rating to a "hold" rating in a research note on Friday. Cantor Fitzgerald restated an "overweight" rating on shares of Arvinas in a research note on Friday, February 7th. Finally, Wedbush lowered Arvinas from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $57.00 to $12.00 in a report on Wednesday, March 12th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $24.09.

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.