Arvinas (NASDAQ:ARVN) Given Buy Rating at BTIG Research

Arvinas (NASDAQ:ARVN)‘s stock had its “buy” rating reaffirmed by equities research analysts at BTIG Research in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $18.00 target price on the stock. BTIG Research’s target price would suggest a potential upside of 104.13% from the stock’s previous close.

A number of other brokerages also recently weighed in on ARVN. Stephens restated an “overweight” rating and issued a $18.00 target price on shares of Arvinas in a research note on Wednesday, June 3rd. Wall Street Zen raised Arvinas from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 26th. Barclays lifted their price target on Arvinas from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Weiss Ratings cut Arvinas from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday. Finally, Citigroup upped their price objective on Arvinas from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.42.

Arvinas Stock Performance

ARVN traded up $0.76 during mid-day trading on Tuesday, reaching $8.82. 2,062,566 shares of the stock were exchanged, compared to its average volume of 825,603. The stock has a market capitalization of $568.94 million, a PE ratio of -2.67 and a beta of 1.71. The company has a 50 day moving average price of $8.07 and a two-hundred day moving average price of $10.32. Arvinas has a 1 year low of $6.05 and a 1 year high of $14.51.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, August 4th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $2.95. Arvinas had a negative net margin of 247.54% and a negative return on equity of 44.38%. The company had revenue of $249.70 million for the quarter, compared to analyst estimates of $60.71 million. During the same period last year, the firm earned ($0.84) earnings per share. The firm’s revenue was up 1014.7% on a year-over-year basis. Sell-side analysts expect that Arvinas will post -2.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Noah Berkowitz sold 11,108 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $9.94, for a total value of $110,413.52. Following the sale, the insider directly owned 191,395 shares in the company, valued at approximately $1,902,466.30. The trade was a 5.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrew Saik sold 5,696 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $8.16, for a total value of $46,479.36. Following the completion of the sale, the chief financial officer owned 187,432 shares in the company, valued at $1,529,445.12. This represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 41,728 shares of company stock valued at $402,649. 7.30% of the stock is owned by insiders.

Institutional Trading of Arvinas

Several hedge funds and other institutional investors have recently modified their holdings of the business. ProShare Advisors LLC increased its stake in shares of Arvinas by 7.2% during the fourth quarter. ProShare Advisors LLC now owns 14,827 shares of the company’s stock valued at $176,000 after buying an additional 993 shares during the period. Intech Investment Management LLC lifted its stake in Arvinas by 3.6% in the third quarter. Intech Investment Management LLC now owns 32,653 shares of the company’s stock worth $278,000 after acquiring an additional 1,125 shares during the period. MetLife Investment Management LLC lifted its stake in Arvinas by 4.3% in the fourth quarter. MetLife Investment Management LLC now owns 33,810 shares of the company’s stock worth $401,000 after acquiring an additional 1,381 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Arvinas by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock valued at $271,000 after acquiring an additional 2,122 shares in the last quarter. Finally, Oxford Asset Management LLP boosted its holdings in Arvinas by 15.5% in the second quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock valued at $123,000 after acquiring an additional 2,242 shares in the last quarter. Institutional investors own 95.19% of the company’s stock.

Arvinas Company Profile

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.