Arvinas (NASDAQ:ARVN) Earns “Hold” Rating from Jefferies Financial Group

Arvinas (NASDAQ:ARVN)‘s stock had its “hold” rating reissued by Jefferies Financial Group in a note issued to investors on Friday, Marketbeat Ratings reports. They presently have a $10.00 target price on the stock, down from their previous target price of $52.00. Jefferies Financial Group’s price target would suggest a potential upside of 29.53% from the stock’s current price.

Other analysts have also issued reports about the stock. BMO Capital Markets set a $20.00 price target on shares of Arvinas and gave the stock an “outperform” rating in a research note on Wednesday, March 12th. Oppenheimer lowered shares of Arvinas from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research note on Friday, February 7th. The Goldman Sachs Group reduced their price objective on Arvinas from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $81.00 target price on shares of Arvinas in a research report on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.82.

Arvinas Stock Up 6.8 %

Shares of ARVN opened at $7.72 on Friday. Arvinas has a twelve month low of $5.94 and a twelve month high of $37.38. The company has a market capitalization of $563.49 million, a P/E ratio of -2.79 and a beta of 2.21. The firm has a 50 day moving average of $9.66 and a 200 day moving average of $17.44.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of ($0.93) by $2.07. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same period in the previous year, the company earned ($0.97) earnings per share. The firm’s revenue for the quarter was up 646.2% compared to the same quarter last year. On average, sell-side analysts expect that Arvinas will post -3.81 EPS for the current year.

Insider Activity

In related news, insider Ian Taylor sold 9,020 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.71, for a total transaction of $150,724.20. Following the completion of the sale, the insider now owns 159,121 shares in the company, valued at approximately $2,658,911.91. This trade represents a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Noah Berkowitz sold 8,658 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total value of $74,372.22. Following the completion of the transaction, the insider now directly owns 110,023 shares in the company, valued at approximately $945,097.57. This represents a 7.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,230 shares of company stock worth $769,402 in the last three months. Company insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Several hedge funds have recently modified their holdings of the stock. Affinity Asset Advisors LLC increased its holdings in Arvinas by 180.0% in the 4th quarter. Affinity Asset Advisors LLC now owns 630,000 shares of the company’s stock valued at $12,077,000 after acquiring an additional 405,000 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Arvinas by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after purchasing an additional 367,343 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Arvinas in the fourth quarter worth about $1,534,000. Kennedy Capital Management LLC boosted its stake in Arvinas by 42.0% during the fourth quarter. Kennedy Capital Management LLC now owns 208,992 shares of the company’s stock valued at $4,006,000 after buying an additional 61,802 shares during the last quarter. Finally, BIT Capital GmbH grew its holdings in Arvinas by 291.7% during the 4th quarter. BIT Capital GmbH now owns 263,527 shares of the company’s stock valued at $5,052,000 after buying an additional 196,246 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

About Arvinas

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.