Stephens Reaffirms Overweight Rating for Arvinas (NASDAQ:ARVN)

Arvinas (NASDAQ:ARVN)‘s stock had its “overweight” rating reiterated by analysts at Stephens in a report issued on Wednesday,Benzinga reports. They currently have a $18.00 price target on the stock. Stephens’ target price indicates a potential upside of 125.00% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Wall Street Zen lowered shares of Arvinas from a “hold” rating to a “sell” rating in a research note on Monday, March 2nd. Piper Sandler reissued an “overweight” rating and set a $20.00 target price (up from $16.00) on shares of Arvinas in a research note on Wednesday, February 25th. Citigroup boosted their target price on shares of Arvinas from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Truist Financial set a $10.00 target price on shares of Arvinas in a research note on Wednesday, March 18th. Finally, BTIG Research boosted their target price on shares of Arvinas from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $15.42.

Arvinas Stock Down 6.8%

Arvinas stock opened at $8.00 on Wednesday. The firm has a 50-day moving average price of $10.15 and a two-hundred day moving average price of $11.59. The firm has a market capitalization of $516.16 million, a price-to-earnings ratio of -2.41 and a beta of 1.74. Arvinas has a 52-week low of $6.05 and a 52-week high of $14.51.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Monday, May 11th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.05. The firm had revenue of $15.60 million during the quarter, compared to analyst estimates of $16.61 million. Arvinas had a negative net margin of 247.54% and a negative return on equity of 44.38%. Arvinas’s revenue was down 91.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 EPS. Research analysts expect that Arvinas will post -2.85 earnings per share for the current year.

Insider Activity at Arvinas

In related news, Director Briggs Morrison purchased 20,000 shares of Arvinas stock in a transaction dated Friday, March 6th. The stock was bought at an average cost of $13.40 per share, with a total value of $268,000.00. Following the purchase, the director owned 96,021 shares in the company, valued at approximately $1,286,681.40. The trade was a 26.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew Saik sold 11,139 shares of the company’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 $110,721.66. Following the completion of the sale, the chief financial officer directly owned 193,128 shares of the company’s stock, valued at approximately $1,919,692.32. This represents a 5.45% 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. In the last 90 days, insiders sold 42,467 shares of company stock valued at $427,598. 7.30% of the stock is currently owned by insiders.

Institutional Trading of Arvinas

A number of institutional investors have recently made changes to their positions in ARVN. Tower Research Capital LLC TRC lifted its stake in shares of Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after acquiring 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 worth $49,000 after acquiring an additional 3,500 shares during the period. State of Wyoming acquired a new stake in shares of Arvinas in the 3rd quarter worth approximately $68,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Arvinas in the 3rd quarter worth approximately $92,000. Finally, Jain Global LLC bought a new stake in shares of Arvinas in the 3rd quarter worth approximately $95,000. 95.19% of the stock is owned by institutional investors and hedge funds.

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.