Brokerages Anticipate Arvinas, Inc. (NASDAQ:ARVN) Will Announce Quarterly Sales of $29.11 Million

Analysts expect Arvinas, Inc. (NASDAQ:ARVNGet Rating) to announce $29.11 million in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Arvinas’ earnings, with estimates ranging from $5.50 million to $52.00 million. Arvinas reported sales of $5.54 million during the same quarter last year, which indicates a positive year over year growth rate of 425.5%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Arvinas will report full-year sales of $121.64 million for the current financial year, with estimates ranging from $40.70 million to $206.20 million. For the next fiscal year, analysts forecast that the business will report sales of $129.39 million, with estimates ranging from $56.00 million to $216.78 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Arvinas.

Arvinas (NASDAQ:ARVNGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.29). The firm had revenue of $24.20 million during the quarter, compared to analyst estimates of $25.51 million. Arvinas had a negative net margin of 326.72% and a negative return on equity of 29.38%. Arvinas’s revenue for the quarter was up 340.0% on a year-over-year basis.

A number of equities research analysts have recently issued reports on ARVN shares. SVB Leerink reduced their price objective on Arvinas from $97.00 to $91.00 and set an “outperform” rating for the company in a report on Friday, February 18th. Wedbush downgraded Arvinas from an “outperform” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research report on Monday, May 9th. Citigroup cut their target price on shares of Arvinas to $103.00 and set a “buy” rating on the stock in a research report on Friday, May 20th. Piper Sandler lowered their price objective on Arvinas from $116.00 to $76.00 and set an “overweight” rating for the company in a research note on Monday, May 23rd. Finally, Morgan Stanley initiated coverage on Arvinas in a research report on Wednesday, April 6th. They set an “equal weight” rating and a $65.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Arvinas currently has an average rating of “Buy” and a consensus target price of $99.35.

Shares of NASDAQ:ARVN opened at $40.95 on Thursday. The company’s 50-day moving average price is $55.72 and its two-hundred day moving average price is $66.06. Arvinas has a one year low of $37.41 and a one year high of $108.46. The stock has a market capitalization of $2.18 billion, a PE ratio of -9.82 and a beta of 2.05.

In other Arvinas news, Director Briggs Morrison sold 20,960 shares of the stock in a transaction dated Thursday, April 14th. The shares were sold at an average price of $66.44, for a total value of $1,392,582.40. Following the completion of the sale, the director now owns 19,976 shares in the company, valued at approximately $1,327,205.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sean A. Cassidy sold 1,593 shares of the firm’s 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 $101,856.42. The disclosure for this sale can be found here. Insiders sold a total of 44,446 shares of company stock worth $2,985,177 over the last 90 days. Company insiders own 2.78% of the company’s stock.

Several large investors have recently bought and sold shares of ARVN. Credit Suisse AG lifted its position in Arvinas by 0.6% in the third quarter. Credit Suisse AG now owns 30,888 shares of the company’s stock valued at $2,538,000 after acquiring an additional 193 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Arvinas by 0.4% during the 3rd quarter. Alliancebernstein L.P. now owns 55,000 shares of the company’s stock valued at $4,520,000 after buying an additional 200 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in shares of Arvinas by 142.7% during the 3rd quarter. Advisor Group Holdings Inc. now owns 415 shares of the company’s stock worth $34,000 after purchasing an additional 244 shares during the period. Profund Advisors LLC lifted its stake in shares of Arvinas by 7.0% during the 4th quarter. Profund Advisors LLC now owns 4,303 shares of the company’s stock worth $353,000 after purchasing an additional 282 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Arvinas by 3.2% during the 3rd quarter. Arizona State Retirement System now owns 10,008 shares of the company’s stock worth $822,000 after purchasing an additional 312 shares during the period. Institutional investors and hedge funds own 84.52% of the company’s stock.

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.

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