Arvinas Inc (NASDAQ:ARVN) – Analysts at Piper Jaffray Companies decreased their Q3 2019 EPS estimates for shares of Arvinas in a report issued on Monday, August 5th, according to Zacks Investment Research. Piper Jaffray Companies analyst E. Tenthoff now anticipates that the company will post earnings of ($0.50) per share for the quarter, down from their previous forecast of ($0.45). Piper Jaffray Companies currently has a “Overweight” rating and a $32.00 price target on the stock. Piper Jaffray Companies also issued estimates for Arvinas’ Q4 2019 earnings at ($0.53) EPS, FY2019 earnings at ($2.04) EPS, Q1 2020 earnings at ($0.56) EPS, Q2 2020 earnings at ($0.60) EPS, Q3 2020 earnings at ($0.60) EPS, Q4 2020 earnings at ($0.64) EPS and FY2020 earnings at ($2.41) EPS.
Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.15). The company had revenue of $4.02 million during the quarter, compared to the consensus estimate of $4.00 million. Arvinas had a negative net margin of 411.20% and a negative return on equity of 239.20%.
Shares of NASDAQ ARVN opened at $23.22 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 7.79 and a current ratio of 7.79. The company has a market cap of $823.04 million and a P/E ratio of -0.91. The firm’s fifty day moving average is $24.87 and its two-hundred day moving average is $21.25. Arvinas has a 52-week low of $10.19 and a 52-week high of $28.25.
Hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new stake in Arvinas during the 2nd quarter worth approximately $26,000. Bank of Montreal Can grew its position in Arvinas by 148,100.0% during the 2nd quarter. Bank of Montreal Can now owns 1,482 shares of the company’s stock worth $33,000 after purchasing an additional 1,481 shares during the last quarter. Deutsche Bank AG purchased a new stake in Arvinas during the 4th quarter worth approximately $135,000. Virtus ETF Advisers LLC purchased a new stake in Arvinas during the 2nd quarter worth approximately $283,000. Finally, Panagora Asset Management Inc. purchased a new stake in Arvinas during the 2nd quarter worth approximately $287,000. 41.24% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder Ventures Iii L.P. 5Am sold 810,000 shares of Arvinas stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $21.87, for a total transaction of $17,714,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sean A. Cassidy sold 11,945 shares of Arvinas stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $26.22, for a total transaction of $313,197.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,011,945 shares of company stock valued at $21,761,398. 31.77% of the stock is owned by corporate insiders.
Arvinas, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead products include ARV-110, proteolysis targeting chimeras (PROTAC) that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer; and ARV-471, a PROTAC targeting the estrogen receptor protein for the treatment of women with metastatic ER positive/HER2 negative breast cancer.
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