Zacks: Analysts Expect Arvinas, Inc. (NASDAQ:ARVN) Will Announce Quarterly Sales of $29.11 Million

Analysts expect that Arvinas, Inc. (NASDAQ:ARVNGet Rating) will post $29.11 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Arvinas’ earnings, with the highest sales estimate coming in at $51.55 million and the lowest estimate coming in at $15.00 million. Arvinas reported sales of $5.54 million during the same quarter last year, which would suggest a positive year over year growth rate of 425.5%. The business is scheduled to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Arvinas will report full year sales of $131.08 million for the current year, with estimates ranging from $60.00 million to $206.20 million. For the next year, analysts anticipate that the business will report sales of $131.07 million, with estimates ranging from $56.00 million to $231.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Arvinas.

Arvinas (NASDAQ:ARVNGet Rating) last issued its quarterly earnings results on Monday, February 28th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.21). Arvinas had a negative return on equity of 27.31% and a negative net margin of 409.29%. The business had revenue of $26.30 million for the quarter, compared to the consensus estimate of $15.08 million. The firm’s quarterly revenue was up 1095.5% on a year-over-year basis.

ARVN has been the subject of several analyst reports. Wedbush decreased their target price on shares of Arvinas from $115.00 to $98.00 in a research note on Friday, February 18th. Zacks Investment Research cut shares of Arvinas from a “buy” rating to a “hold” rating in a research note on Thursday, March 3rd. SVB Leerink decreased their target price on shares of Arvinas from $97.00 to $91.00 and set an “outperform” rating for the company in a research note on Friday, February 18th. Stifel Nicolaus decreased their target price on shares of Arvinas from $100.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, March 1st. Finally, The Goldman Sachs Group cut their price target on Arvinas from $157.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, March 1st. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $113.06.

In other news, Director Briggs Morrison sold 20,960 shares of Arvinas stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $66.44, for a total transaction of $1,392,582.40. Following the completion of the sale, the director now owns 19,976 shares of the company’s stock, valued at $1,327,205.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ian Taylor sold 20,000 shares of the business’s stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $73.02, for a total value of $1,460,400.00. The disclosure for this sale can be found here. Insiders have sold 64,446 shares of company stock valued at $4,445,577 in the last three months. Insiders own 6.45% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Strs Ohio raised its stake in Arvinas by 76.2% in the first quarter. Strs Ohio now owns 14,800 shares of the company’s stock valued at $996,000 after purchasing an additional 6,400 shares in the last quarter. Nordea Investment Management AB acquired a new position in Arvinas in the first quarter valued at about $245,000. Norges Bank acquired a new position in Arvinas in the fourth quarter valued at about $50,546,000. Walleye Capital LLC acquired a new position in Arvinas in the fourth quarter valued at about $1,302,000. Finally, BlackRock Inc. grew its position in Arvinas by 7.0% in the fourth quarter. BlackRock Inc. now owns 3,505,740 shares of the company’s stock valued at $287,961,000 after acquiring an additional 230,284 shares during the last quarter. 89.18% of the stock is owned by institutional investors and hedge funds.

NASDAQ:ARVN opened at $64.13 on Friday. Arvinas has a 1-year low of $56.64 and a 1-year high of $108.46. The firm has a fifty day simple moving average of $67.05 and a 200 day simple moving average of $74.02. The stock has a market capitalization of $3.40 billion, a PE ratio of -16.83 and a beta of 2.00.

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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