Arvinas (NASDAQ:ARVN) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Arvinas (NASDAQ:ARVN) in a research note released on Wednesday, Benzinga reports. They currently have a $87.00 price target on the stock.

Several other equities research analysts also recently weighed in on ARVN. Barclays increased their price target on Arvinas from $26.00 to $60.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Leerink Partnrs restated an outperform rating on shares of Arvinas in a research report on Thursday, February 22nd. BMO Capital Markets boosted their target price on shares of Arvinas from $89.00 to $90.00 and gave the company an outperform rating in a research note on Wednesday, February 28th. Oppenheimer reaffirmed an outperform rating and issued a $80.00 price objective (down previously from $95.00) on shares of Arvinas in a report on Wednesday, February 28th. Finally, Wedbush increased their target price on shares of Arvinas from $33.00 to $59.00 and gave the stock an outperform rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $61.33.

Arvinas Stock Down 5.7 %

Arvinas stock opened at $32.37 on Wednesday. The stock has a 50-day moving average price of $39.00 and a 200 day moving average price of $35.55. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -4.98 and a beta of 1.95. Arvinas has a 52 week low of $13.57 and a 52 week high of $53.08.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.97) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.45. The company had revenue of $25.30 million during the quarter, compared to analyst estimates of $32.94 million. Arvinas had a negative net margin of 185.09% and a negative return on equity of 70.24%. Arvinas’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same period last year, the firm posted ($1.54) EPS. Research analysts anticipate that Arvinas will post -5.02 EPS for the current fiscal year.

Insider Activity at Arvinas

In other Arvinas news, insider Ronald Peck sold 1,699 shares of Arvinas stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $79,937.95. Following the sale, the insider now owns 67,516 shares of the company’s stock, valued at approximately $3,176,627.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Sean A. Cassidy sold 1,702 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total value of $80,079.10. Following the completion of the sale, the chief financial officer now owns 181,916 shares of the company’s stock, valued at $8,559,147.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ronald Peck sold 1,699 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total value of $79,937.95. Following the transaction, the insider now directly owns 67,516 shares in the company, valued at approximately $3,176,627.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,597 shares of company stock valued at $404,489. 5.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System grew its holdings in shares of Arvinas by 18.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,670 shares of the company’s stock valued at $688,000 after purchasing an additional 2,590 shares during the period. ProShare Advisors LLC grew its stake in shares of Arvinas by 18.8% in the 1st quarter. ProShare Advisors LLC now owns 13,832 shares of the company’s stock valued at $571,000 after buying an additional 2,188 shares during the period. Sei Investments Co. grew its stake in shares of Arvinas by 219.4% in the 1st quarter. Sei Investments Co. now owns 24,501 shares of the company’s stock valued at $1,012,000 after buying an additional 16,831 shares during the period. Swiss National Bank raised its position in shares of Arvinas by 27.5% during the 1st quarter. Swiss National Bank now owns 114,100 shares of the company’s stock valued at $4,710,000 after buying an additional 24,600 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Arvinas by 462.2% during the 1st quarter. SG Americas Securities LLC now owns 36,297 shares of the company’s stock valued at $1,498,000 after buying an additional 29,841 shares during the period. Hedge funds and other institutional investors own 95.19% of the company’s stock.

About Arvinas

Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body's own natural protein disposal system to degrade and remove disease-causing proteins.