Arvinas (NASDAQ:ARVN) Announces Quarterly Earnings Results

Arvinas (NASDAQ:ARVN – Get Rating) announced its earnings results on Thursday. The company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.04) by ($0.28), Briefing.com reports. The company had revenue of $31.30 million for the quarter, compared to analysts’ expectations of $23.71 million. Arvinas had a negative return on equity of 30.11% and a negative net margin of 255.97%. The company’s quarterly revenue was up 469.1% compared to the same quarter last year. During the same period last year, the business earned ($1.03) EPS.

Arvinas Stock Up 7.8 %

Shares of Arvinas stock traded up $4.02 on Friday, hitting $55.43. The company’s stock had a trading volume of 554,599 shares, compared to its average volume of 339,542. Arvinas has a 52-week low of $34.90 and a 52-week high of $103.53. The firm has a fifty day moving average price of $46.12 and a 200-day moving average price of $56.79. The company has a market capitalization of $2.95 billion, a P/E ratio of -12.43 and a beta of 2.00.

Analyst Ratings Changes

A number of brokerages recently issued reports on ARVN. Stifel Europe decreased their price target on shares of Arvinas from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, May 5th. Stifel Nicolaus cut their price objective on shares of Arvinas from $93.00 to $85.00 in a report on Tuesday, April 26th. Wedbush cut shares of Arvinas from an “outperform” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a report on Monday, May 9th. The Goldman Sachs Group cut their price objective on shares of Arvinas from $111.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th. Finally, Piper Sandler cut their price objective on shares of Arvinas from $116.00 to $76.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Arvinas presently has a consensus rating of “Moderate Buy” and an average target price of $86.67.

Institutional Investors Weigh In On Arvinas

Several institutional investors and hedge funds have recently made changes to their positions in ARVN. Wellington Management Group LLP boosted its position in shares of Arvinas by 22.6% in the 1st quarter. Wellington Management Group LLP now owns 776,569 shares of the company’s stock worth $52,263,000 after buying an additional 143,274 shares in the last quarter. UBS Group AG raised its stake in Arvinas by 44.2% in the 1st quarter. UBS Group AG now owns 413,027 shares of the company’s stock valued at $27,797,000 after purchasing an additional 126,540 shares during the last quarter. Invesco Ltd. raised its stake in Arvinas by 13.0% in the 1st quarter. Invesco Ltd. now owns 614,598 shares of the company’s stock valued at $41,362,000 after purchasing an additional 70,801 shares during the last quarter. State Street Corp raised its stake in Arvinas by 7.1% in the 1st quarter. State Street Corp now owns 1,021,370 shares of the company’s stock valued at $68,738,000 after purchasing an additional 67,431 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Arvinas by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 4,023,581 shares of the company’s stock valued at $270,786,000 after purchasing an additional 31,372 shares during the last quarter. 84.52% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Company Profile

(Get Rating)

Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.