Arvinas, Inc. (NASDAQ:ARVN) Receives $15.42 Average Target Price from Brokerages

Arvinas, Inc. (NASDAQ:ARVN) has been assigned a consensus rating of “Hold” from the thirteen analysts that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $15.4167.

ARVN has been the topic of several recent analyst reports. Weiss Ratings raised shares of Arvinas from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 13th. Barclays lifted their price target on Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. BTIG Research upped their price target on Arvinas from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Zacks Research raised Arvinas from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen raised Arvinas from a “strong sell” rating to a “sell” rating in a research note on Sunday.

Arvinas Price Performance

Arvinas stock opened at $8.22 on Friday. Arvinas has a fifty-two week low of $6.05 and a fifty-two week high of $14.51. The firm’s 50 day simple moving average is $8.15 and its 200-day simple moving average is $10.47. The company has a market cap of $530.36 million, a P/E ratio of -2.48 and a beta of 1.74.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.05. Arvinas had a negative net margin of 247.54% and a negative return on equity of 44.38%. The business had revenue of $15.60 million during the quarter, compared to the consensus estimate of $16.61 million. During the same quarter in the prior year, the firm earned $1.14 EPS. The firm’s quarterly revenue was down 91.7% on a year-over-year basis. On average, analysts expect that Arvinas will post -2.82 EPS for the current fiscal year.

Insider Activity

In other news, CFO Andrew Saik sold 11,139 shares of the company’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 $110,721.66. Following the transaction, the chief financial officer owned 193,128 shares in the company, valued at $1,919,692.32. This represents a 5.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Noah Berkowitz sold 11,108 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $9.94, for a total transaction of $110,413.52. Following the completion of the sale, the insider directly owned 191,395 shares of the company’s stock, valued at $1,902,466.30. This trade represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 41,728 shares of company stock worth $402,649 in the last 90 days. Company insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ARVN. Tower Research Capital LLC TRC boosted its stake 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 buying an additional 4,835 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Arvinas by 109.4% in the second 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 during the last quarter. Jain Global LLC acquired a new position in shares of Arvinas in the third quarter worth $95,000. Oxford Asset Management LLP raised its holdings in shares of Arvinas by 15.5% during the second quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock worth $123,000 after acquiring an additional 2,242 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Arvinas during the third quarter worth $124,000. Institutional investors and hedge funds 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.