Arvinas (NASDAQ:ARVN) Upgraded at Barclays

Barclays upgraded shares of Arvinas (NASDAQ:ARVN) to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

A number of other research analysts have also recently weighed in on ARVN. Wells Fargo & Company cut their price objective 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. HC Wainwright cut their price target on shares of Arvinas from $24.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Leerink Partners restated a “market perform” rating and issued a $9.00 price target (down from $10.00) on shares of Arvinas in a report on Monday, June 2nd. Guggenheim dropped their target price on shares of Arvinas from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Finally, Leerink Partnrs downgraded shares of Arvinas from a “strong-buy” rating to a “hold” rating in a research note on Sunday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.13.

Arvinas Stock Up 1.4%

ARVN stock opened at $7.72 on Tuesday. Arvinas has a twelve month low of $5.90 and a twelve month high of $29.61. The stock has a market capitalization of $566.80 million, a price-to-earnings ratio of -7.64 and a beta of 2.38. The firm’s fifty day simple moving average is $7.49 and its two-hundred day simple moving average is $7.88.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.84) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $22.40 million for the quarter, compared to analysts’ expectations of $34.42 million. During the same quarter in the previous year, the business posted ($0.49) earnings per share. The business’s revenue was down 70.7% compared to the same quarter last year. As a group, equities research analysts expect that Arvinas will post -3.81 EPS for the current year.

Arvinas declared that its Board of Directors has initiated a stock buyback program on Wednesday, September 17th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 17.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Arvinas

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

Institutional Trading of Arvinas

A number of institutional investors have recently modified their holdings of ARVN. Alyeska Investment Group L.P. bought a new stake in shares of Arvinas in the 1st quarter valued at about $12,636,000. Vanguard Group Inc. boosted its holdings in shares of Arvinas by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 8,362,200 shares of the company’s stock valued at $58,703,000 after buying an additional 1,299,639 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Arvinas by 791.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,427,832 shares of the company’s stock valued at $10,498,000 after buying an additional 1,267,593 shares in the last quarter. Philosophy Capital Management LLC bought a new stake in shares of Arvinas in the 1st quarter valued at about $6,992,000. Finally, Federated Hermes Inc. boosted its holdings in shares of Arvinas by 1,965.0% in the 1st quarter. Federated Hermes Inc. now owns 980,674 shares of the company’s stock valued at $6,884,000 after buying an additional 933,183 shares in the last quarter. 95.19% of the stock is currently owned by 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.