Analysts Set Arvinas, Inc. (NASDAQ:ARVN) Target Price at $16.39

Arvinas, Inc. (NASDAQ:ARVN) has earned an average recommendation of “Hold” from the twenty-three brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.3947.

Several equities analysts have recently weighed in on ARVN shares. BTIG Research lifted their price target on Arvinas from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $6.00 target price (down previously from $8.00) on shares of Arvinas in a report on Wednesday, October 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Arvinas in a research report on Wednesday, October 8th. Piper Sandler restated an “overweight” rating and issued a $16.00 price objective on shares of Arvinas in a research report on Tuesday, October 7th. Finally, Bank of America lowered shares of Arvinas from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a report on Wednesday, September 24th.

Insider Buying and Selling at Arvinas

In other Arvinas news, Director Briggs Morrison acquired 30,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were bought at an average price of $7.57 per share, for a total transaction of $227,100.00. Following the completion of the transaction, the director owned 76,021 shares of the company’s stock, valued at approximately $575,478.97. This represents a 65.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.73% of the company’s stock.

Institutional Trading of Arvinas

Several institutional investors and hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund boosted its position in shares of Arvinas by 19.0% during the 1st quarter. New York State Common Retirement Fund now owns 24,313 shares of the company’s stock valued at $171,000 after acquiring an additional 3,888 shares during the last quarter. CWM LLC lifted its position in Arvinas by 2,317.5% during the first quarter. CWM LLC now owns 7,615 shares of the company’s stock valued at $53,000 after purchasing an additional 7,300 shares during the last quarter. Victory Capital Management Inc. grew its stake in Arvinas by 60.2% in the 1st quarter. Victory Capital Management Inc. now owns 72,810 shares of the company’s stock worth $511,000 after buying an additional 27,360 shares in the last quarter. Corton Capital Inc. bought a new position in shares of Arvinas in the 1st quarter worth $124,000. Finally, Federated Hermes Inc. raised its position in shares of Arvinas by 1,965.0% during the 1st quarter. Federated Hermes Inc. now owns 980,674 shares of the company’s stock valued at $6,884,000 after buying an additional 933,183 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Stock Down 11.2%

NASDAQ ARVN opened at $11.53 on Monday. The firm has a market cap of $740.46 million, a P/E ratio of -14.23 and a beta of 2.38. The company’s 50 day moving average is $9.35 and its 200-day moving average is $8.04. Arvinas has a 12-month low of $5.90 and a 12-month high of $27.00.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.27. Arvinas had a negative net margin of 18.73% and a negative return on equity of 9.77%. The business had revenue of $41.90 million during the quarter, compared to analyst estimates of $29.36 million. During the same period in the previous year, the business earned ($0.68) EPS. Arvinas’s revenue was down 59.1% compared to the same quarter last year. Equities analysts expect that Arvinas will post -3.81 EPS for the current year.

Arvinas declared that its board has approved a share repurchase plan on Wednesday, September 17th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 17.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Arvinas Company Profile

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.