Brokerages Set Arvinas, Inc. (NASDAQ:ARVN) Price Target at $59.73

Arvinas, Inc. (NASDAQ:ARVN) has been assigned an average recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $59.73.

Several equities research analysts have weighed in on the stock. HC Wainwright lowered their target price on shares of Arvinas from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Leerink Partnrs restated an “outperform” rating on shares of Arvinas in a research note on Thursday, February 22nd. Barclays raised their target price on shares of Arvinas from $26.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. The Goldman Sachs Group began coverage on shares of Arvinas in a research note on Thursday, February 1st. They set a “buy” rating and a $70.00 price objective for the company. Finally, Truist Financial reiterated a “buy” rating and set a $65.00 price objective on shares of Arvinas in a research note on Monday, March 25th.

Insider Buying and Selling 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 value of $79,937.95. Following the completion of the transaction, the insider now owns 67,516 shares of the company’s stock, valued at $3,176,627.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $79,937.95. Following the completion of the transaction, the insider now owns 67,516 shares of the company’s stock, valued at $3,176,627.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sean A. Cassidy sold 1,702 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 $80,079.10. Following the completion of the transaction, the chief financial officer now directly owns 181,916 shares of the company’s stock, valued at approximately $8,559,147.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,597 shares of company stock valued at $404,489. Corporate insiders own 5.23% of the company’s stock.

Institutional Trading of Arvinas

A number of institutional investors and hedge funds have recently modified their holdings of ARVN. AE Wealth Management LLC purchased a new stake in shares of Arvinas during the third quarter worth about $464,000. Mach 1 Financial Group LLC purchased a new stake in shares of Arvinas during the third quarter worth about $463,000. Harbor Capital Advisors Inc. increased its stake in shares of Arvinas by 17.0% during the third quarter. Harbor Capital Advisors Inc. now owns 16,928 shares of the company’s stock worth $332,000 after purchasing an additional 2,454 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in Arvinas during the 3rd quarter valued at about $28,000. Finally, Strs Ohio raised its holdings in Arvinas by 67.6% in the 3rd quarter. Strs Ohio now owns 29,000 shares of the company’s stock valued at $569,000 after acquiring an additional 11,700 shares during the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Stock Down 2.6 %

Shares of ARVN stock opened at $34.00 on Friday. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of -5.23 and a beta of 1.94. The company’s 50 day moving average is $42.95 and its 200 day moving average is $34.39. Arvinas has a 52-week low of $13.57 and a 52-week high of $53.08.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($2.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.15) by ($1.38). The business had revenue of ($43.10) million for the quarter, compared to analysts’ expectations of $38.91 million. Arvinas had a negative net margin of 185.09% and a negative return on equity of 70.24%. During the same period in the previous year, the business earned ($1.56) earnings per share. Analysts anticipate that Arvinas will post -5.02 EPS for the current fiscal year.

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.