Brokerages Set Arvinas, Inc. (NASDAQ:ARVN) Target Price at $99.80

Arvinas, Inc. (NASDAQ:ARVN – Get Rating) has received an average rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $96.19.

ARVN has been the topic of a number of analyst reports. Piper Sandler cut their price target on shares of Arvinas from $116.00 to $76.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Wedbush cut Arvinas from an “outperform” rating to a “neutral” rating and set a $43.00 target price for the company. in a research note on Monday, May 9th. Stifel Europe lowered their target price on Arvinas from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, May 5th. Stifel Nicolaus lowered their target price on Arvinas from $93.00 to $85.00 in a research note on Tuesday, April 26th. Finally, Morgan Stanley started coverage on Arvinas in a research note on Wednesday, April 6th. They set an “equal weight” rating and a $65.00 target price for the company.

Shares of NASDAQ:ARVN opened at $39.49 on Thursday. The firm’s 50 day simple moving average is $47.45 and its 200 day simple moving average is $62.04. Arvinas has a fifty-two week low of $34.90 and a fifty-two week high of $108.46.

Arvinas (NASDAQ:ARVN – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.29). The firm had revenue of $24.20 million during the quarter, compared to analyst estimates of $25.51 million. Arvinas had a negative net margin of 326.72% and a negative return on equity of 29.38%. The company’s revenue for the quarter was up 340.0% on a year-over-year basis. On average, analysts forecast that Arvinas will post -4.36 EPS for the current fiscal year.

In other Arvinas news, Director Briggs Morrison sold 20,960 shares of the firm’s stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $66.44, for a total transaction of $1,392,582.40. Following the completion of the sale, the director now owns 19,976 shares of the company’s stock, valued at approximately $1,327,205.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.78% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of ARVN. Advisor Group Holdings Inc. lifted its holdings in shares of Arvinas by 142.7% during the third quarter. Advisor Group Holdings Inc. now owns 415 shares of the company’s stock worth $34,000 after buying an additional 244 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Arvinas during the third quarter worth $41,000. First Quadrant L P CA acquired a new position in Arvinas in the fourth quarter valued at about $47,000. Lindbrook Capital LLC acquired a new position in Arvinas in the fourth quarter valued at about $57,000. Finally, Lazard Asset Management LLC acquired a new position in Arvinas in the first quarter valued at about $57,000. 84.52% of the stock is owned by institutional investors.

About Arvinas (Get Rating)

Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.

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