Arvinas’ (ARVN) “Buy” Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Arvinas (NASDAQ:ARVN) in a research report released on Tuesday morning, Marketbeat reports. They currently have a $18.00 price objective on the stock.

Several other research analysts have also recently issued reports on the company. Zacks Research raised Arvinas from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Barclays raised their target price on Arvinas from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Wall Street Zen upgraded Arvinas from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 26th. Citigroup upped their price target on Arvinas from $21.00 to $24.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, Weiss Ratings lowered shares of Arvinas from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 30th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.90.

Arvinas Trading Up 3.3%

Arvinas stock opened at $8.68 on Tuesday. The stock has a market cap of $560.03 million, a P/E ratio of 86.81 and a beta of 1.71. The company has a fifty day simple moving average of $8.06 and a 200-day simple moving average of $10.25. Arvinas has a 12-month low of $6.05 and a 12-month high of $14.51.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, August 4th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $2.95. Arvinas had a net margin of 2.94% and a return on equity of 1.91%. The firm had revenue of $249.70 million during the quarter, compared to the consensus estimate of $60.71 million. During the same quarter in the previous year, the firm posted ($0.84) earnings per share. The company’s revenue was up 1014.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Arvinas will post -2.39 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Randy Teel sold 9,657 shares of the firm’s 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 $95,990.58. Following the transaction, the chief executive officer owned 287,218 shares in the company, valued at $2,854,946.92. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 Arvinas stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $8.16, for a total value of $46,479.36. Following the transaction, the chief financial officer directly owned 187,432 shares in the company, valued at approximately $1,529,445.12. This trade represents a 2.95% decrease in their position. 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 three months, insiders sold 41,728 shares of company stock valued at $402,649. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its position in Arvinas by 491.4% in 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 during the last quarter. Canada Pension Plan Investment Board grew its position in Arvinas by 109.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after purchasing an additional 3,500 shares during the last quarter. Jain Global LLC purchased a new position in Arvinas during the 3rd quarter worth $95,000. Oxford Asset Management LLP increased its stake 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 purchasing an additional 2,242 shares during the period. Finally, Virtu Financial LLC acquired a new position in Arvinas in the third quarter valued at $124,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

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.