Arvinas (NASDAQ:ARVN) Price Target Raised to $18.00

Arvinas (NASDAQ:ARVN) had its price objective hoisted by Citigroup from $15.00 to $18.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the stock. Stephens increased their price objective on shares of Arvinas from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Wall Street Zen cut shares of Arvinas from a “hold” rating to a “sell” rating in a research note on Monday, March 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 target price (up from $16.00) on shares of Arvinas in a report on Wednesday, February 25th. Wells Fargo & Company decreased their price target on Arvinas from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Finally, Wedbush boosted their price objective on Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Ten equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.65.

Arvinas Stock Down 0.9%

ARVN stock opened at $13.60 on Thursday. The business’s 50-day moving average price is $12.61 and its 200-day moving average price is $10.85. The stock has a market cap of $869.86 million, a P/E ratio of -10.62 and a beta of 1.87. Arvinas has a twelve month low of $5.90 and a twelve month high of $18.76.

Arvinas (NASDAQ:ARVN) last released its earnings results on Tuesday, February 24th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.55). Arvinas had a negative return on equity of 14.25% and a negative net margin of 30.77%.The firm had revenue of $9.50 million during the quarter, compared to analysts’ expectations of $37.26 million. During the same period in the prior year, the company posted ($0.63) earnings per share. The company’s revenue was down 84.0% compared to the same quarter last year. On average, equities research analysts expect that Arvinas will post -3.81 earnings per share for the current fiscal year.

Insider Activity at Arvinas

In other Arvinas news, CEO Randy Teel sold 4,786 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $12.16, for a total transaction of $58,197.76. Following the completion of the transaction, the chief executive officer owned 149,696 shares of the company’s stock, valued at $1,820,303.36. This represents a 3.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Noah Berkowitz sold 5,685 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $11.89, for a total value of $67,594.65. Following the transaction, the insider owned 163,938 shares of the company’s stock, valued at approximately $1,949,222.82. The trade was a 3.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 57,429 shares of company stock worth $731,014 in the last three months. Insiders own 4.73% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Hedge funds have recently made changes to their positions in the company. Monaco Asset Management SAM increased its stake in Arvinas by 185.6% in the 2nd quarter. Monaco Asset Management SAM now owns 900,936 shares of the company’s stock worth $6,631,000 after acquiring an additional 585,477 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Arvinas by 791.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,427,832 shares of the company’s stock worth $10,498,000 after acquiring an additional 1,267,593 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its position in shares of Arvinas by 307.7% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 223,576 shares of the company’s stock valued at $1,905,000 after acquiring an additional 168,744 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Arvinas by 28.7% in the third quarter. Nordea Investment Management AB now owns 557,742 shares of the company’s stock valued at $4,730,000 after purchasing an additional 124,254 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Arvinas in the second quarter valued at $390,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Company Profile

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.