Brokerages expect Arvinas, Inc. (NASDAQ:ARVN – Get Rating) to report sales of $25.91 million for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Arvinas’ earnings, with estimates ranging from $15.00 million to $37.50 million. Arvinas posted sales of $5.54 million during the same quarter last year, which indicates a positive year-over-year growth rate of 367.7%. The business is expected to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Arvinas will report full year sales of $121.69 million for the current year, with estimates ranging from $60.00 million to $206.00 million. For the next financial year, analysts expect that the company will post sales of $118.47 million, with estimates ranging from $56.00 million to $180.20 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Arvinas.
Arvinas (NASDAQ:ARVN – Get Rating) last posted its quarterly earnings data on Monday, February 28th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.21). Arvinas had a negative net margin of 409.29% and a negative return on equity of 27.31%. The firm had revenue of $26.30 million for the quarter, compared to analysts’ expectations of $15.08 million. The firm’s revenue was up 1095.5% compared to the same quarter last year.
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A number of research firms have commented on ARVN. Wells Fargo & Company began coverage on shares of Arvinas in a research note on Thursday, February 10th. They set an “overweight” rating and a $98.00 price objective for the company. Cowen began coverage on shares of Arvinas in a research report on Monday, December 6th. They issued an “outperform” rating for the company. Zacks Investment Research lowered shares of Arvinas from a “buy” rating to a “hold” rating in a research report on Thursday, March 3rd. Wedbush reduced their price target on shares of Arvinas from $115.00 to $98.00 in a research report on Friday, February 18th. Finally, The Goldman Sachs Group reduced their price target on shares of Arvinas from $157.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, March 1st. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $116.27.
ARVN stock opened at $67.30 on Friday. Arvinas has a one year low of $56.59 and a one year high of $108.46. The firm has a market capitalization of $3.57 billion, a PE ratio of -17.66 and a beta of 2.02. The firm has a 50-day moving average of $67.77 and a two-hundred day moving average of $76.23.
In other Arvinas news, CEO John G. Houston sold 6,024 shares of the stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $63.94, for a total transaction of $385,174.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sean A. Cassidy sold 1,593 shares of the stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $63.94, for a total value of $101,856.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,446 shares of company stock worth $4,426,923. Insiders own 6.45% of the company’s stock.
Several institutional investors have recently made changes to their positions in ARVN. Royal Bank of Canada grew its stake in shares of Arvinas by 38.3% in the second quarter. Royal Bank of Canada now owns 2,989 shares of the company’s stock worth $230,000 after acquiring an additional 828 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Arvinas by 0.9% in the second quarter. Wells Fargo & Company MN now owns 59,205 shares of the company’s stock worth $4,560,000 after acquiring an additional 500 shares during the last quarter. Morgan Stanley grew its stake in shares of Arvinas by 208.5% in the second quarter. Morgan Stanley now owns 753,343 shares of the company’s stock worth $58,008,000 after acquiring an additional 509,173 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new stake in shares of Arvinas in the third quarter worth $10,795,000. Finally, Regents of The University of California acquired a new stake in shares of Arvinas in the third quarter worth $6,353,000. Institutional investors and hedge funds own 89.18% of the company’s stock.
About Arvinas (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.
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Read More: $25.91 Million in Sales Expected for Arvinas, Inc. (NASDAQ:ARVN) This Quarter