Arvinas, Inc. (NASDAQ:ARVN) Receives $14.17 Consensus PT from Brokerages

Arvinas, Inc. (NASDAQ:ARVN) has earned an average rating of “Hold” from the eleven research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $14.1667.

ARVN has been the topic of several recent analyst reports. BTIG Research reaffirmed a “buy” rating and set a $18.00 price objective on shares of Arvinas in a research report on Tuesday, August 4th. Zacks Research raised Arvinas from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded shares of Arvinas from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $11.00 price target (down from $15.00) on shares of Arvinas in a report on Tuesday, August 4th. Finally, Stephens reiterated an “overweight” rating and issued a $18.00 price target on shares of Arvinas in a research note on Wednesday, June 3rd.

Arvinas Stock Down 0.1%

Shares of ARVN opened at $9.36 on Wednesday. The company has a market capitalization of $603.92 million, a P/E ratio of 93.61 and a beta of 1.71. The firm has a 50 day moving average of $8.37 and a 200 day moving average of $9.95. Arvinas has a twelve month low of $6.97 and a twelve month high of $14.51.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $2.95. Arvinas had a net margin of 2.94% and a return on equity of 1.91%. The company had revenue of $249.70 million during the quarter, compared to analyst estimates of $60.71 million. During the same period in the previous year, the business earned ($0.84) EPS. The firm’s revenue for the quarter was up 1014.7% on a year-over-year basis. On average, sell-side analysts expect that Arvinas will post -0.27 EPS for the current year.

Insider Transactions at Arvinas

In related news, CFO Andrew Saik sold 5,696 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $8.16, for a total value of $46,479.36. Following the sale, the chief financial officer owned 187,432 shares in the company, valued at approximately $1,529,445.12. This trade represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Arvinas

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Arvinas during the second quarter valued at approximately $63,232,000. TCG Crossover Management LLC purchased a new position in shares of Arvinas during the 3rd quarter valued at $13,780,000. Balyasny Asset Management L.P. lifted its stake in shares of Arvinas by 469.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock valued at $10,286,000 after buying an additional 995,125 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in Arvinas by 154.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock worth $12,668,000 after buying an additional 903,337 shares during the period. Finally, Millennium Management LLC boosted its holdings in Arvinas by 208.4% in the 1st quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock worth $9,198,000 after buying an additional 885,483 shares during the period. 95.19% of the stock is currently owned by institutional investors.

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.