Arvinas (NASDAQ:ARVN) Price Target Raised to $16.00

Arvinas (NASDAQ:ARVN) had its target price hoisted by Barclays from $15.00 to $16.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also weighed in on the company. Wells Fargo & Company reduced their price objective on Arvinas from $19.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Arvinas in a research report on Wednesday, October 8th. Stephens reduced their price target on shares of Arvinas from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, September 18th. The Goldman Sachs Group reiterated a “sell” rating and set a $6.00 price objective (down from $8.00) on shares of Arvinas in a research note on Wednesday, October 15th. Finally, HC Wainwright dropped their price objective on shares of Arvinas from $24.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.34.

Arvinas Stock Up 6.3%

Shares of ARVN opened at $10.63 on Thursday. Arvinas has a fifty-two week low of $5.90 and a fifty-two week high of $28.70. The company’s fifty day moving average is $8.83 and its two-hundred day moving average is $7.91. The firm has a market cap of $682.66 million, a PE ratio of -13.12 and a beta of 2.38.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.27. Arvinas had a negative return on equity of 9.77% and a negative net margin of 18.73%.The business had revenue of $41.90 million for the quarter, compared to analyst estimates of $29.36 million. During the same period last year, the company posted ($0.68) EPS. The business’s quarterly revenue was down 59.1% on a year-over-year basis. As a group, equities research analysts anticipate that Arvinas will post -3.81 earnings per share for the current year.

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

Insider Activity at Arvinas

In other Arvinas news, Director Briggs Morrison purchased 30,000 shares of Arvinas stock in a transaction that occurred on Monday, September 22nd. The stock was purchased at an average price of $7.57 per share, with a total value of $227,100.00. Following the completion of the acquisition, the director owned 76,021 shares of the company’s stock, valued at approximately $575,478.97. This trade represents a 65.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.73% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd boosted its stake in shares of Arvinas by 965.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company’s stock valued at $33,000 after buying an additional 4,219 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Arvinas by 491.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after buying an additional 4,835 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Arvinas by 109.4% in the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after buying an additional 3,500 shares during the last quarter. CWM LLC raised its holdings in Arvinas by 2,317.5% in the first quarter. CWM LLC now owns 7,615 shares of the company’s stock valued at $53,000 after acquiring an additional 7,300 shares in the last quarter. Finally, State of Wyoming bought a new position in Arvinas during the 3rd quarter valued at $68,000. 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.