BTIG Research Issues Positive Forecast for Arvinas (NASDAQ:ARVN) Stock Price

Arvinas (NASDAQ:ARVN) had its price objective upped by equities researchers at BTIG Research from $16.00 to $18.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target would indicate a potential upside of 88.09% from the company’s previous close.

A number of other brokerages have also recently weighed in on ARVN. Zacks Research cut shares of Arvinas from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Wall Street Zen cut shares of Arvinas from a “hold” rating to a “sell” rating in a report on Monday, March 2nd. Citigroup increased their target price on shares of Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arvinas in a report on Friday, April 10th. Finally, Truist Financial set a $10.00 price target on shares of Arvinas in a research report on Wednesday, March 18th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.14.

Arvinas Stock Performance

Shares of NASDAQ:ARVN opened at $9.57 on Wednesday. The stock has a market capitalization of $617.46 million, a price-to-earnings ratio of -7.48 and a beta of 1.79. Arvinas has a 1-year low of $5.90 and a 1-year high of $14.51. The company’s fifty day moving average is $11.21 and its two-hundred day moving average is $11.68.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, May 12th. The company reported ($0.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.05. The company had revenue of $15.60 million for the quarter, compared to analysts’ expectations of $16.61 million. Arvinas had a negative net margin of 30.77% and a negative return on equity of 14.25%. The firm’s revenue was down 91.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 earnings per share. Sell-side analysts expect that Arvinas will post -3.25 EPS for the current fiscal year.

Insider Transactions at Arvinas

In related news, insider Noah Berkowitz sold 6,435 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $11.10, for a total value of $71,428.50. Following the completion of the transaction, the insider owned 202,503 shares in the company, valued at $2,247,783.30. This represents a 3.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Briggs Morrison bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average price of $13.40 per share, with a total value of $268,000.00. Following the transaction, the director directly owned 96,021 shares in the company, valued at $1,286,681.40. This represents a 26.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 63,864 shares of company stock worth $802,443 over the last ninety days. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Several large investors have recently made changes to their positions in ARVN. Tower Research Capital LLC TRC boosted its position in shares of Arvinas by 491.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after purchasing an additional 4,835 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Arvinas by 109.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock valued at $49,000 after purchasing an additional 3,500 shares in the last quarter. State of Wyoming bought a new position in shares of Arvinas during the 3rd quarter valued at about $68,000. Aster Capital Management DIFC Ltd bought a new position in shares of Arvinas during the 3rd quarter valued at about $92,000. Finally, Jain Global LLC bought a new position in shares of Arvinas during the 3rd quarter valued at about $95,000. Institutional investors own 95.19% of the company’s stock.

About Arvinas

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.