Arvinas (NASDAQ:ARVN) Stock Price Expected to Rise, Stephens Analyst Says

Arvinas (NASDAQ:ARVN) had its target price upped by analysts at Stephens from $14.00 to $15.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Stephens’ price objective indicates a potential upside of 37.99% from the stock’s previous close.

A number of other brokerages have also weighed in on ARVN. Bank of America lowered Arvinas from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a research report on Wednesday, September 24th. The Goldman Sachs Group reiterated a “sell” rating and set a $6.00 price target (down previously from $8.00) on shares of Arvinas in a report on Wednesday, October 15th. Wedbush restated a “neutral” rating and issued a $9.00 price objective on shares of Arvinas in a report on Thursday. Wells Fargo & Company cut their target price on Arvinas from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, HC Wainwright decreased their price target on Arvinas from $24.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Arvinas has an average rating of “Hold” and an average target price of $16.39.

Arvinas Trading Up 2.3%

Shares of NASDAQ ARVN opened at $10.87 on Monday. The company has a market cap of $698.07 million, a price-to-earnings ratio of -13.42 and a beta of 2.38. Arvinas has a 12 month low of $5.90 and a 12 month high of $28.70. The stock has a 50-day moving average price of $8.83 and a two-hundred day moving average price of $7.90.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.27. The company had revenue of $41.90 million for the quarter, compared to the consensus estimate of $29.36 million. Arvinas had a negative net margin of 18.73% and a negative return on equity of 9.77%. The firm’s quarterly revenue was down 59.1% compared to the same quarter last year. During the same period last year, the company posted ($0.68) EPS. On average, sell-side analysts predict that Arvinas will post -3.81 earnings per share for the current year.

Arvinas announced that its Board of Directors has approved a stock buyback plan on Wednesday, September 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 17.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Briggs Morrison purchased 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were acquired at an average cost of $7.57 per share, with a total value of $227,100.00. Following the purchase, the director owned 76,021 shares in the company, valued at $575,478.97. This represents a 65.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.73% of the stock is owned by insiders.

Institutional Investors Weigh In On Arvinas

Several institutional investors have recently bought and sold shares of ARVN. Caitong International Asset Management Co. Ltd lifted its stake in Arvinas by 965.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company’s stock valued at $33,000 after acquiring an additional 4,219 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after acquiring an additional 4,835 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Arvinas by 109.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after acquiring an additional 3,500 shares in the last quarter. CWM LLC raised its holdings in shares of Arvinas by 2,317.5% in the first 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, State of Wyoming bought a new position in shares of Arvinas during the third quarter valued at about $68,000. Institutional investors own 95.19% of the company’s stock.

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.