Arvinas’ (ARVN) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Arvinas (NASDAQ:ARVN) in a research report released on Wednesday morning, Benzinga reports. Wedbush currently has a $57.00 price objective on the stock.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group initiated coverage on shares of Arvinas in a research note on Thursday, February 1st. They set a buy rating and a $70.00 price objective for the company. Oppenheimer reaffirmed an outperform rating and issued a $80.00 price target (down previously from $95.00) on shares of Arvinas in a report on Wednesday, February 28th. Stifel Nicolaus lowered their price objective on Arvinas from $72.00 to $68.00 and set a buy rating on the stock in a research note on Wednesday. Truist Financial reaffirmed a buy rating and issued a $65.00 target price on shares of Arvinas in a research note on Monday, March 25th. Finally, Citigroup lowered Arvinas from a buy rating to a neutral rating and lifted their price target for the stock from $36.00 to $55.00 in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Arvinas currently has a consensus rating of Moderate Buy and an average target price of $61.33.

Arvinas Price Performance

Shares of Arvinas stock opened at $32.37 on Wednesday. The business has a 50 day simple moving average of $39.00 and a two-hundred day simple moving average of $35.55. The stock has a market capitalization of $2.21 billion, a P/E ratio of -4.98 and a beta of 1.95. 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 data 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 return on equity of 70.24% and a negative net margin of 185.09%. 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 firm posted ($1.54) EPS. The firm’s revenue for the quarter was down 22.2% on a year-over-year basis. As a group, research analysts anticipate that Arvinas will post -5.02 EPS for the current fiscal year.

Insider Activity

In related news, CFO Sean A. Cassidy sold 1,702 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $80,079.10. Following the completion of the transaction, the chief financial officer now owns 181,916 shares of the company’s stock, valued at approximately $8,559,147.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Ronald Peck sold 1,699 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 67,516 shares of the company’s stock, valued at approximately $3,176,627.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sean A. Cassidy sold 1,702 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $80,079.10. Following the completion of the transaction, the chief financial officer now directly owns 181,916 shares of the company’s stock, valued at approximately $8,559,147.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,597 shares of company stock valued at $404,489. Company insiders own 5.23% of the company’s stock.

Institutional Trading of Arvinas

Several hedge funds have recently modified their holdings of the stock. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Arvinas during the 1st quarter worth about $44,000. China Universal Asset Management Co. Ltd. grew its position in shares of Arvinas by 96.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,374 shares of the company’s stock worth $27,000 after buying an additional 674 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Arvinas during the fourth quarter worth approximately $75,000. Headlands Technologies LLC raised its holdings in Arvinas by 393.4% in the fourth quarter. Headlands Technologies LLC now owns 2,388 shares of the company’s stock valued at $98,000 after acquiring an additional 1,904 shares in the last quarter. Finally, Personal CFO Solutions LLC purchased a new position in Arvinas in the fourth quarter worth approximately $206,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.

About Arvinas

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.