Piper Sandler Reiterates Overweight Rating for Arvinas (NASDAQ:ARVN)

Arvinas (NASDAQ:ARVN)‘s stock had its “overweight” rating reissued by analysts at Piper Sandler in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $14.00 price target on the stock, down from their prior price target of $24.00. Piper Sandler’s price target would suggest a potential upside of 81.35% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Oppenheimer cut Arvinas from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Bank of America lowered their price objective on shares of Arvinas from $54.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. The Goldman Sachs Group cut their target price on shares of Arvinas from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Citigroup decreased their price target on shares of Arvinas from $28.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Finally, TD Cowen cut shares of Arvinas from a “buy” rating to a “hold” rating in a research report on Friday. 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.82.

Arvinas Stock Performance

Arvinas stock opened at $7.72 on Friday. The firm has a market cap of $563.49 million, a price-to-earnings ratio of -2.79 and a beta of 2.21. Arvinas has a 52-week low of $5.94 and a 52-week high of $37.38. The firm has a 50 day moving average price of $9.66 and a two-hundred day moving average price of $17.44.

Arvinas (NASDAQ:ARVN) last released its earnings results on Thursday, May 1st. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $2.07. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period last year, the business earned ($0.97) EPS. The company’s revenue for the quarter was up 646.2% compared to the same quarter last year. As a group, equities research analysts predict that Arvinas will post -3.81 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO John G. Houston sold 31,338 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.72, for a total transaction of $523,971.36. Following the completion of the sale, the chief executive officer now owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Noah Berkowitz sold 8,658 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were 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 owns 110,023 shares in the company, valued at approximately $945,097.57. The trade was a 7.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,230 shares of company stock valued at $769,402. Corporate insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. purchased a new stake in Arvinas during the fourth quarter valued at about $42,332,000. Norges Bank purchased a new stake in shares of Arvinas during the 4th quarter valued at approximately $23,845,000. Boxer Capital Management LLC bought a new position in Arvinas in the 4th quarter worth approximately $20,294,000. RTW Investments LP grew its stake in Arvinas by 19.8% in the 4th quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock valued at $63,919,000 after buying an additional 551,979 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its holdings in Arvinas by 42.8% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,776,555 shares of the company’s stock valued at $34,057,000 after acquiring an additional 532,105 shares during the period. Institutional investors own 95.19% of the company’s stock.

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.