Arvinas, Inc. (NASDAQ:ARVN) Receives Average Rating of “Hold” from Analysts

Shares of Arvinas, Inc. (NASDAQ:ARVN) have earned an average rating of “Hold” from the eleven ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $14.1667.

A number of research firms recently weighed in on ARVN. Wells Fargo & Company restated an “equal weight” rating and set a $11.00 price target (down from $15.00) on shares of Arvinas in a research report on Tuesday, August 4th. Wedbush increased their price objective on shares of Arvinas from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Stephens reissued an “overweight” rating and issued a $18.00 target price on shares of Arvinas in a research note on Wednesday, June 3rd. Citigroup lowered their target price on Arvinas from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Finally, BTIG Research restated a “buy” rating and issued a $18.00 price target on shares of Arvinas in a research report on Tuesday, August 4th.

Arvinas Stock Performance

Shares of ARVN opened at $8.31 on Friday. The stock has a 50 day moving average price of $8.72 and a 200 day moving average price of $9.46. Arvinas has a one year low of $6.97 and a one year high of $14.51. The stock has a market capitalization of $536.17 million, a price-to-earnings ratio of 83.11 and a beta of 1.75.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Tuesday, August 4th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $2.95. The company had revenue of $249.70 million for the quarter, compared to analysts’ expectations of $60.71 million. Arvinas had a net margin of 2.94% and a return on equity of 1.91%. The firm’s quarterly revenue was up 1014.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.84) EPS. On average, analysts predict that Arvinas will post 0.05 earnings per share for the current year.

Insider Buying and Selling

In other Arvinas news, CFO Andrew Saik sold 5,696 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was 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 transaction was disclosed in a filing with the SEC, which is accessible 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. Insiders own 7.30% of the company’s stock.

Institutional Trading of Arvinas

Hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Arvinas in the 2nd quarter valued at approximately $48,000. Quantbot Technologies LP acquired a new stake in shares of Arvinas during the 2nd quarter worth approximately $85,000. Corient Private Wealth LP purchased a new stake in shares of Arvinas during the 2nd quarter valued at approximately $95,000. Pale Fire Capital SE purchased a new stake in shares of Arvinas during the 2nd quarter valued at approximately $99,000. Finally, Canada Pension Plan Investment Board acquired a new position in Arvinas in the second quarter valued at approximately $112,000. 95.19% of the stock is owned by institutional investors and hedge funds.

Arvinas Company Profile

Arvinas, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively remove disease-causing proteins from cells. The company’s approach, known as targeted protein degradation, uses proprietary PROTAC technology to direct specific proteins to the cell’s natural disposal machinery. Arvinas applies this platform primarily to cancer and other serious diseases in which abnormal or unwanted proteins contribute to disease progression.

Arvinas’ pipeline has included vepdegestrant, formerly known as ARV-471, an investigational oral estrogen receptor degrader being developed for patients with estrogen receptor-positive, HER2-negative breast cancer.