Arvinas, Inc. (NASDAQ:ARVN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Arvinas, Inc. (NASDAQ:ARVN) have been given a consensus rating of “Moderate Buy” by the sixteen analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $59.73.

A number of brokerages have issued reports on ARVN. BMO Capital Markets upped their target price on Arvinas from $89.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Truist Financial reaffirmed a “buy” rating and issued a $65.00 target price on shares of Arvinas in a report on Monday, March 25th. Oppenheimer reaffirmed an “outperform” rating and issued a $80.00 target price (down previously from $95.00) on shares of Arvinas in a report on Wednesday, February 28th. Citigroup cut Arvinas from a “buy” rating to a “neutral” rating and upped their target price for the stock from $36.00 to $55.00 in a report on Wednesday, February 14th. Finally, The Goldman Sachs Group began coverage on Arvinas in a report on Thursday, February 1st. They issued a “buy” rating and a $70.00 target price for the company.

Arvinas Stock Up 1.3 %

Shares of ARVN stock opened at $34.72 on Friday. Arvinas has a twelve month low of $13.57 and a twelve month high of $53.08. The company has a market cap of $2.37 billion, a P/E ratio of -5.34 and a beta of 1.94. The business has a fifty day simple moving average of $43.27 and a 200 day simple moving average of $34.16.

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

Insider Activity

In related news, CEO John G. Houston sold 5,196 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction of $244,471.80. Following the completion of the sale, the chief executive officer now owns 1,036,681 shares of the company’s stock, valued at $48,775,841.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arvinas news, CEO John G. Houston sold 5,196 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total value of $244,471.80. Following the transaction, the chief executive officer now owns 1,036,681 shares in the company, valued at $48,775,841.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ronald Peck sold 1,699 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $3,176,627.80. 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. Company insiders own 2.55% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Several hedge funds have recently made changes to their positions in ARVN. China Universal Asset Management Co. Ltd. grew its position in shares of Arvinas by 96.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,374 shares of the company’s stock valued at $27,000 after purchasing an additional 674 shares in the last quarter. BluePath Capital Management LLC purchased a new position in shares of Arvinas in the third quarter valued at $28,000. PNC Financial Services Group Inc. grew its position in shares of Arvinas by 1,015.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,383 shares of the company’s stock valued at $34,000 after purchasing an additional 1,259 shares in the last quarter. Royal Bank of Canada boosted its stake in Arvinas by 37.6% during the third quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock valued at $54,000 after buying an additional 336 shares during the period. Finally, Natixis bought a new stake in Arvinas during the fourth quarter valued at $54,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

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.