Arvinas (NASDAQ:ARVN) Rating Reiterated by Wedbush

Arvinas (NASDAQ:ARVN)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a research report issued on Wednesday, Benzinga reports. They currently have a $57.00 price target on the stock. Wedbush’s price objective would indicate a potential upside of 71.27% from the company’s current price.

Several other equities research analysts also recently commented on ARVN. Citigroup downgraded Arvinas from a “buy” rating to a “neutral” rating and raised their target price for the company from $36.00 to $55.00 in a report on Wednesday, February 14th. The Goldman Sachs Group began coverage on Arvinas in a research note on Thursday, February 1st. They set a “buy” rating and a $70.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price target on shares of Arvinas in a report on Wednesday. Truist Financial reissued a “buy” rating and issued a $65.00 target price on shares of Arvinas in a research report on Monday, March 25th. Finally, Stifel Nicolaus reduced their price target on shares of Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.33.

Arvinas Stock Performance

NASDAQ ARVN traded down $1.05 during trading hours on Wednesday, hitting $33.28. 116,081 shares of the company’s stock were exchanged, compared to its average volume of 716,511. The firm has a market capitalization of $2.27 billion, a P/E ratio of -5.10 and a beta of 1.95. The business’s 50 day moving average is $39.27 and its 200-day moving average is $35.57. Arvinas has a 12-month low of $13.57 and a 12-month high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.97) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.45. Arvinas had a negative net margin of 185.09% and a negative return on equity of 70.24%. The company had revenue of $25.30 million for the quarter, compared to analyst estimates of $32.94 million. During the same quarter last year, the business earned ($1.54) EPS. Arvinas’s revenue for the quarter was down 22.2% on a year-over-year basis. As a group, equities research analysts anticipate that Arvinas will post -5.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arvinas news, CEO John G. Houston sold 5,196 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $244,471.80. Following the completion of the transaction, the chief executive officer now directly owns 1,036,681 shares in the company, valued at $48,775,841.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Ronald Peck sold 1,699 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $79,937.95. Following the transaction, the insider now directly owns 67,516 shares in the company, valued at approximately $3,176,627.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John G. Houston sold 5,196 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $47.05, for a total value of $244,471.80. Following the completion of the transaction, the chief executive officer now directly owns 1,036,681 shares in the company, valued at $48,775,841.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,597 shares of company stock worth $404,489. 5.23% of the stock is owned by corporate insiders.

Institutional Trading of Arvinas

Large investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in Arvinas by 10.6% during the third quarter. FMR LLC now owns 4,868,295 shares of the company’s stock valued at $95,613,000 after purchasing an additional 466,667 shares in the last quarter. Vanguard Group Inc. lifted its position in Arvinas by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 4,851,390 shares of the company’s stock valued at $199,683,000 after purchasing an additional 243,167 shares during the period. RTW Investments LP acquired a new position in Arvinas in the fourth quarter valued at approximately $173,427,000. Price T Rowe Associates Inc. MD boosted its position in shares of Arvinas by 42.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,832,123 shares of the company’s stock worth $157,731,000 after purchasing an additional 1,143,452 shares during the last quarter. Finally, Avidity Partners Management LP boosted its holdings in Arvinas by 14.2% during the fourth quarter. Avidity Partners Management LP now owns 2,985,117 shares of the company’s stock worth $122,867,000 after buying an additional 370,157 shares during the last quarter. 95.19% of the stock is 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.