Arvinas, Inc. (NASDAQ:ARVN) Receives $16.18 Average PT from Analysts

Arvinas, Inc. (NASDAQ:ARVN) has been assigned a consensus recommendation of “Hold” from the twenty-three brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $16.1842.

Several brokerages recently weighed in on ARVN. Wells Fargo & Company decreased their target price on Arvinas from $19.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Barclays began coverage on Arvinas in a research note on Wednesday, September 17th. They set an “overweight” rating and a $16.00 target price for the company. HC Wainwright decreased their target price on Arvinas from $24.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Arvinas in a research note on Friday. Finally, The Goldman Sachs Group restated a “sell” rating and set a $6.00 target price (down previously from $8.00) on shares of Arvinas in a research note on Wednesday, October 15th.

Insider Activity at Arvinas

In other news, Director Briggs Morrison acquired 30,000 shares of Arvinas stock in a transaction on Monday, September 22nd. The stock was bought at an average price of $7.57 per share, for a total transaction of $227,100.00. Following the transaction, the director owned 76,021 shares of the company’s stock, valued at $575,478.97. The trade was a 65.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.73% of the company’s stock.

Institutional Trading of Arvinas

A number of hedge funds have recently modified their holdings of ARVN. Exchange Traded Concepts LLC raised its holdings in shares of Arvinas by 119.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 14,642 shares of the company’s stock worth $103,000 after buying an additional 7,983 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Arvinas during the 1st quarter valued at $80,000. New York State Common Retirement Fund raised its position in Arvinas by 19.0% in the 1st quarter. New York State Common Retirement Fund now owns 24,313 shares of the company’s stock valued at $171,000 after purchasing an additional 3,888 shares during the last quarter. CWM LLC raised its position in Arvinas by 2,317.5% in the 1st quarter. CWM LLC now owns 7,615 shares of the company’s stock valued at $53,000 after purchasing an additional 7,300 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Arvinas by 60.2% in the 1st quarter. Victory Capital Management Inc. now owns 72,810 shares of the company’s stock valued at $511,000 after purchasing an additional 27,360 shares during the last quarter. Institutional investors own 95.19% of the company’s stock.

Arvinas Stock Performance

Shares of NASDAQ ARVN opened at $9.21 on Thursday. The firm has a market cap of $676.20 million, a price-to-earnings ratio of -9.12 and a beta of 2.39. The business’s 50-day simple moving average is $8.35 and its 200-day simple moving average is $7.76. Arvinas has a 52 week low of $5.90 and a 52 week high of $29.61.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.84) EPS for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.03. The business had revenue of $22.40 million for the quarter, compared to analyst estimates of $34.42 million. Arvinas had a negative return on equity of 12.01% and a negative net margin of 19.47%.The firm’s revenue for the quarter was down 70.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.49) EPS. As a group, equities research analysts forecast that Arvinas will post -3.81 earnings per share for the current year.

Arvinas announced that its Board of Directors has approved a share buyback program on Wednesday, September 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 17.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

About Arvinas

Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body’s own natural protein disposal system to degrade and remove disease-causing proteins.