Arvinas (NASDAQ:ARVN) Price Target Cut to $14.00 by Analysts at Stephens

Arvinas (NASDAQ:ARVN) had its price target decreased by Stephens from $16.00 to $14.00 in a research note published on Thursday, Marketbeat reports. Stephens currently has an overweight rating on the stock.

Several other research analysts have also recently weighed in on ARVN. Leerink Partners restated a “market perform” rating and set a $9.00 target price (down from $10.00) on shares of Arvinas in a report on Monday, June 2nd. Barclays began coverage on Arvinas in a research report on Wednesday. They set an “overweight” rating and a $16.00 price objective on the stock. Wells Fargo & Company reduced their price target on shares of Arvinas from $19.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Leerink Partnrs lowered Arvinas from a “strong-buy” rating to a “hold” rating in a research report on Sunday, June 1st. Finally, Guggenheim cut their target price on Arvinas from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.13.

Arvinas Stock Up 1.4%

Arvinas stock opened at $7.72 on Thursday. Arvinas has a 52-week low of $5.90 and a 52-week high of $29.61. The firm has a market capitalization of $566.79 million, a price-to-earnings ratio of -7.64 and a beta of 2.38. The company has a fifty day simple moving average of $7.49 and a 200-day simple moving average of $7.88.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($0.87) by $0.03. Arvinas had a negative net margin of 19.47% and a negative return on equity of 12.01%. The firm had revenue of $22.40 million for the quarter, compared to the consensus estimate of $34.42 million. During the same period last year, the firm posted ($0.49) earnings per share. The company’s revenue for the quarter was down 70.7% on a year-over-year basis. On average, research analysts anticipate that Arvinas will post -3.81 EPS for the current fiscal year.

Arvinas announced that its Board of Directors has authorized a share buyback plan on Wednesday, September 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 17.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Arvinas

In related news, CFO Andrew Saik sold 5,700 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $7.61, for a total transaction of $43,377.00. Following the transaction, the chief financial officer owned 164,401 shares of the company’s stock, valued at approximately $1,251,091.61. This represents a 3.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.73% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ARVN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Arvinas by 3.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,514 shares of the company’s stock valued at $700,000 after purchasing an additional 1,353 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Arvinas during the fourth quarter worth about $28,000. Oxford Asset Management LLP raised its position in shares of Arvinas by 15.5% in the second quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock valued at $123,000 after buying an additional 2,242 shares during the last quarter. Nebula Research & Development LLC lifted its stake in shares of Arvinas by 3.9% during the second quarter. Nebula Research & Development LLC now owns 76,747 shares of the company’s stock valued at $565,000 after buying an additional 2,910 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Arvinas by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 433,531 shares of the company’s stock worth $8,311,000 after acquiring an additional 3,047 shares during the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

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.