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

Shares of Arvinas, Inc. (NASDAQ:ARVN) have received a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $15.4167.

ARVN has been the subject of a number of research reports. Weiss Ratings raised Arvinas from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 price objective (up from $16.00) on shares of Arvinas in a report on Wednesday, February 25th. Wall Street Zen cut Arvinas from a “hold” rating to a “sell” rating in a report on Monday, March 2nd. BTIG Research lifted their price objective on Arvinas from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, Barclays lifted their price objective on Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th.

Arvinas Stock Performance

NASDAQ ARVN opened at $7.09 on Friday. The firm has a 50-day moving average of $9.65 and a 200-day moving average of $11.38. The stock has a market cap of $457.45 million, a PE ratio of -2.14 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, topping analysts’ consensus estimates 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 company had revenue of $15.60 million during the quarter, compared to analysts’ expectations of $16.61 million. During the same quarter last year, the company posted $1.14 EPS. Arvinas’s quarterly revenue was down 91.7% compared to the same quarter last year. As a group, analysts predict that Arvinas will post -2.83 EPS for the current fiscal year.

Insider Buying and Selling at Arvinas

In other news, CEO Randy Teel sold 9,657 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer owned 287,218 shares of the company’s stock, valued at approximately $2,854,946.92. The trade was a 3.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $9.94, for a total value of $110,413.52. Following the sale, the insider owned 191,395 shares of the company’s stock, valued at approximately $1,902,466.30. This represents a 5.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 42,467 shares of company stock valued at $427,598 in the last three months. Corporate insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARVN. TCG Crossover Management LLC acquired a new stake in shares of Arvinas in the 3rd quarter valued at approximately $13,780,000. Balyasny Asset Management L.P. increased its position in Arvinas by 469.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock worth $10,286,000 after purchasing an additional 995,125 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in Arvinas by 154.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock valued at $12,668,000 after purchasing an additional 903,337 shares during the last quarter. Millennium Management LLC lifted its stake in Arvinas by 208.4% in the 1st quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock valued at $9,198,000 after purchasing an additional 885,483 shares during the last quarter. Finally, Armistice Capital LLC boosted its position in Arvinas by 114.3% in the third quarter. Armistice Capital LLC now owns 1,200,000 shares of the company’s stock valued at $10,224,000 after buying an additional 640,000 shares in the last quarter. 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.