Arvinas (NASDAQ:ARVN) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Arvinas (NASDAQ:ARVN) from a buy rating to a hold rating in a report published on Tuesday morning, Zacks.com reports.

According to Zacks, “Arvinas Inc. is a biopharmaceutical company for patients suffering from debilitating and life-threatening diseases. It engages in the discovery, development and commercialization of therapies to degrade disease-causing proteins. Arvinas Inc. is based in CT, United States. “

Several other analysts also recently issued reports on ARVN. Goldman Sachs Group raised Arvinas from a neutral rating to a buy rating and raised their price target for the stock from $23.00 to $38.00 in a report on Thursday, October 24th. Guggenheim began coverage on Arvinas in a research note on Monday, November 25th. They set a buy rating and a $50.00 price objective for the company. Cantor Fitzgerald increased their target price on Arvinas from $42.00 to $75.00 and gave the stock an overweight rating in a research report on Friday, December 20th. HC Wainwright assumed coverage on Arvinas in a research report on Thursday, December 19th. They issued a buy rating and a $50.00 target price on the stock. Finally, Wedbush initiated coverage on Arvinas in a research note on Tuesday, September 24th. They issued an outperform rating and a $38.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. Arvinas has an average rating of Buy and a consensus target price of $45.00.

ARVN traded down $0.75 on Tuesday, hitting $50.54. 277 shares of the company’s stock were exchanged, compared to its average volume of 230,736. The company has a current ratio of 6.79, a quick ratio of 6.79 and a debt-to-equity ratio of 0.03. The stock has a fifty day moving average of $42.00 and a two-hundred day moving average of $28.56. Arvinas has a twelve month low of $14.06 and a twelve month high of $52.93. The firm has a market cap of $1.73 billion, a PE ratio of -1.98 and a beta of 2.72.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Monday, November 4th. The company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.67. The company had revenue of $30.05 million during the quarter, compared to the consensus estimate of $11.42 million. Arvinas had a negative return on equity of 31.57% and a negative net margin of 157.34%. On average, analysts predict that Arvinas will post -1.36 EPS for the current year.

In other Arvinas news, Director Liam Ratcliffe bought 680,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were purchased at an average price of $22.00 per share, with a total value of $14,960,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sean A. Cassidy sold 10,000 shares of Arvinas stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $32.00, for a total value of $320,000.00. Following the sale, the chief financial officer now directly owns 159,115 shares in the company, valued at approximately $5,091,680. The disclosure for this sale can be found here. Insiders own 31.77% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ARVN. BlackRock Inc. grew its stake in shares of Arvinas by 124.5% in the second quarter. BlackRock Inc. now owns 1,038,838 shares of the company’s stock worth $22,845,000 after purchasing an additional 576,137 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Arvinas by 65.9% during the second quarter. Point72 Asset Management L.P. now owns 688,623 shares of the company’s stock valued at $15,143,000 after purchasing an additional 273,623 shares during the period. Vanguard Group Inc. raised its stake in shares of Arvinas by 33.0% during the second quarter. Vanguard Group Inc. now owns 545,305 shares of the company’s stock valued at $11,991,000 after purchasing an additional 135,177 shares in the last quarter. State Street Corp raised its stake in shares of Arvinas by 11.5% during the third quarter. State Street Corp now owns 343,938 shares of the company’s stock valued at $7,412,000 after purchasing an additional 35,366 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Arvinas by 14,782.2% in the second quarter. Bank of America Corp DE now owns 232,609 shares of the company’s stock worth $5,116,000 after purchasing an additional 231,046 shares during the period. Institutional investors own 47.79% of the company’s stock.

About Arvinas

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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