Arvinas (NASDAQ:ARVN) Shares Gap Up – Time to Buy?

Arvinas, Inc. (NASDAQ:ARVN) shares gapped up before the market opened on Tuesday . The stock had previously closed at $11.17, but opened at $12.74. Arvinas shares last traded at $11.9370, with a volume of 182,341 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays boosted their price objective on shares of Arvinas from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. The Goldman Sachs Group restated a “sell” rating and set a $6.00 price target (down from $8.00) on shares of Arvinas in a research report on Wednesday, October 15th. Bank of America cut shares of Arvinas from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a report on Wednesday, September 24th. Stephens lifted their price objective on Arvinas from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Finally, BTIG Research boosted their target price on Arvinas from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Twelve analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.79.

Arvinas Trading Up 4.4%

The stock has a market capitalization of $749.17 million, a PE ratio of -14.43 and a beta of 1.89. The business has a fifty day moving average price of $11.55 and a 200-day moving average price of $9.24.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.27. The company had revenue of $41.90 million for the quarter, compared to analysts’ expectations of $29.36 million. Arvinas had a negative return on equity of 9.77% and a negative net margin of 18.73%.Arvinas’s revenue for the quarter was down 59.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.68) EPS. On average, equities analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Arvinas announced that its Board of Directors has authorized a share buyback program on Wednesday, September 17th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 17.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Arvinas

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its position in Arvinas by 491.4% during the second 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 lifted its stake in shares of Arvinas by 109.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock valued at $49,000 after acquiring an additional 3,500 shares during the last quarter. State of Wyoming purchased a new stake in Arvinas during the 3rd quarter valued at about $68,000. Public Employees Retirement System of Ohio purchased a new stake in Arvinas during the 2nd quarter valued at about $74,000. Finally, Virtus Investment Advisers LLC grew its position in Arvinas by 49.3% during the 2nd quarter. Virtus Investment Advisers LLC now owns 12,422 shares of the company’s stock worth $91,000 after acquiring an additional 4,104 shares during the last quarter. Hedge funds and other 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.