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

Arvinas, Inc. (NASDAQ:ARVN) has been given a consensus recommendation of “Hold” by the thirteen brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $15.4167.

A number of equities research analysts have issued reports on the stock. Stephens restated an “overweight” rating and set a $18.00 price target on shares of Arvinas in a report on Wednesday, June 3rd. Wall Street Zen upgraded Arvinas from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 26th. BTIG Research boosted their price objective on Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Zacks Research upgraded Arvinas from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Barclays raised their target price on Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th.

Insider Activity

In related news, CEO Randy Teel sold 9,657 shares of the business’s stock in a transaction on Monday, May 11th. The shares were 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 of the company’s stock, valued at approximately $2,854,946.92. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $8.16, for a total transaction of $46,479.36. Following the transaction, the chief financial officer owned 187,432 shares of the company’s stock, valued at approximately $1,529,445.12. The trade was a 2.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last three months, insiders sold 41,728 shares of company stock valued at $402,649. 7.30% of the stock is owned by company insiders.

Institutional Trading of Arvinas

A number of hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC bought a new position in shares of Arvinas during the 1st quarter worth about $727,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Arvinas during the first quarter valued at about $301,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Arvinas by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock valued at $271,000 after buying an additional 2,122 shares during the period. Millennium Management LLC lifted its stake in shares of Arvinas by 208.4% in the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock valued at $9,198,000 after buying an additional 885,483 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Arvinas by 108.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 902,925 shares of the company’s stock worth $6,339,000 after buying an additional 469,394 shares in the last quarter. 95.19% of the stock is owned by institutional investors.

Arvinas Trading Down 3.3%

NASDAQ ARVN opened at $8.03 on Friday. The company has a fifty day simple moving average of $8.09 and a 200 day simple moving average of $10.37. The company has a market cap of $518.10 million, a P/E ratio of -2.42 and a beta of 1.74. Arvinas has a 1 year low of $6.05 and a 1 year 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 business had revenue of $15.60 million for 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% compared to the same quarter last year. During the same period last year, the business posted $1.14 EPS. Equities research analysts forecast that Arvinas will post -2.82 EPS for the current fiscal year.

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.