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

Shares of Arvinas, Inc. (NASDAQ:ARVN – Get Rating) have earned a consensus recommendation of “Buy” from the eighteen research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $99.80.

Several research analysts have commented on ARVN shares. Piper Sandler cut their price target on shares of Arvinas from $116.00 to $76.00 and set an “overweight” rating for the company in a report on Monday, May 23rd. Citigroup reduced their target price on Arvinas to $103.00 and set a “buy” rating for the company in a research report on Friday, May 20th. Stifel Nicolaus lowered their price target on Arvinas from $93.00 to $85.00 in a report on Tuesday, April 26th. The Goldman Sachs Group cut their price objective on Arvinas from $111.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, May 24th. Finally, SVB Leerink lowered their target price on shares of Arvinas from $97.00 to $91.00 and set an “outperform” rating on the stock in a research note on Friday, February 18th.

Shares of NASDAQ ARVN opened at $38.28 on Thursday. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -9.18 and a beta of 2.07. The stock has a fifty day simple moving average of $50.36 and a two-hundred day simple moving average of $63.33. Arvinas has a 1-year low of $34.90 and a 1-year high of $108.46.

Arvinas (NASDAQ:ARVN – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.29). The business had revenue of $24.20 million for the quarter, compared to the consensus estimate of $25.51 million. Arvinas had a negative return on equity of 29.38% and a negative net margin of 326.72%. The company’s revenue was up 340.0% compared to the same quarter last year. On average, equities research analysts anticipate that Arvinas will post -4.52 earnings per share for the current fiscal year.

In related news, Director Briggs Morrison sold 20,960 shares of the firm’s stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $66.44, for a total transaction of $1,392,582.40. Following the completion of the transaction, the director now owns 19,976 shares of the company’s stock, valued at approximately $1,327,205.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.78% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. raised its stake in Arvinas by 142.7% during the 3rd quarter. Advisor Group Holdings Inc. now owns 415 shares of the company’s stock valued at $34,000 after buying an additional 244 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Arvinas in the third quarter valued at about $41,000. First Quadrant L P CA purchased a new position in Arvinas in the fourth quarter worth about $47,000. Lindbrook Capital LLC bought a new stake in shares of Arvinas during the 4th quarter valued at about $57,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Arvinas during the 1st quarter valued at about $57,000. 84.52% of the stock is currently owned by institutional investors.

About Arvinas (Get Rating)

Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.

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