Arvinas (NASDAQ:ARVN) Receives “Buy” Rating from HC Wainwright

Arvinas (NASDAQ:ARVN)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $81.00 target price on the stock.

Other analysts have also issued research reports about the stock. Guggenheim reissued a “buy” rating and issued a $57.00 price target on shares of Arvinas in a research report on Wednesday, February 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research report on Friday, February 7th. Stephens initiated coverage on Arvinas in a report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price objective for the company. BMO Capital Markets reissued an “outperform” rating and set a $82.00 price objective (down from $88.00) on shares of Arvinas in a report on Wednesday, February 12th. Finally, Barclays cut their target price on Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.08.

Arvinas Price Performance

Shares of Arvinas stock traded down $9.07 during trading hours on Tuesday, hitting $8.49. 8,511,600 shares of the company’s stock traded hands, compared to its average volume of 1,201,061. The company has a fifty day simple moving average of $18.22 and a 200-day simple moving average of $22.38. The stock has a market capitalization of $584.15 million, a price-to-earnings ratio of -3.07 and a beta of 1.95. Arvinas has a 12-month low of $7.91 and a 12-month high of $46.62.

Arvinas (NASDAQ:ARVN) last released its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period in the previous year, the business earned ($2.53) EPS. On average, analysts forecast that Arvinas will post -3.81 EPS for the current fiscal year.

Insider Activity

In other Arvinas news, CEO John G. Houston sold 31,338 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.72, for a total transaction of $523,971.36. Following the completion of the transaction, the chief executive officer now owns 1,157,480 shares of the company’s stock, valued at approximately $19,353,065.60. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ian Taylor sold 9,020 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.71, for a total transaction of $150,724.20. Following the completion of the sale, the insider now directly owns 159,121 shares in the company, valued at $2,658,911.91. This represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,572 shares of company stock worth $695,030 in the last quarter. 5.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arvinas

Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in shares of Arvinas by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after buying an additional 367,343 shares during the last quarter. Baker BROS. Advisors LP purchased a new stake in Arvinas during the 3rd quarter valued at $9,989,000. SG Americas Securities LLC raised its stake in shares of Arvinas by 228.8% in the fourth quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock worth $622,000 after purchasing an additional 22,564 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of Arvinas by 58.3% during the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock valued at $10,737,000 after purchasing an additional 160,510 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Arvinas by 198.9% during the third quarter. Barclays PLC now owns 121,699 shares of the company’s stock valued at $2,998,000 after buying an additional 80,984 shares during the last quarter. 95.19% of the stock is owned by institutional investors.

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.