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

Arvinas (NASDAQ:ARVN) had its target price increased by equities research analysts at BTIG Research from $14.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 46.92% from the stock’s previous close.

ARVN has been the subject of several other research reports. Truist Financial set a $10.00 price target on Arvinas in a report on Wednesday. Wall Street Zen cut Arvinas from a “hold” rating to a “sell” rating in a research report on Monday, March 2nd. Barclays boosted their price objective on Arvinas from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. Wedbush lifted their target price on shares of Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Finally, Citigroup increased their price objective on Arvinas from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $13.71.

Arvinas Trading Down 9.3%

NASDAQ ARVN opened at $10.89 on Thursday. The company has a market cap of $696.52 million, a P/E ratio of -8.51 and a beta of 1.87. The company has a fifty day simple moving average of $12.74 and a 200 day simple moving average of $11.13. Arvinas has a 12-month low of $5.90 and a 12-month high of $14.51.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($1.10) earnings per share 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 business had revenue of $9.50 million for the quarter, compared to analyst estimates of $37.26 million. During the same quarter in the previous year, the company posted ($0.63) EPS. The business’s quarterly revenue was down 84.0% on a year-over-year basis. Sell-side analysts predict that Arvinas will post -3.81 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Arvinas

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after buying an additional 4,835 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Arvinas by 109.4% during the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after purchasing an additional 3,500 shares in the last quarter. State of Wyoming purchased a new stake in shares of Arvinas in the 3rd quarter valued at about $68,000. Abel Hall LLC purchased a new position in Arvinas during the 4th quarter worth approximately $125,000. Finally, Corient Private Wealth LLC acquired a new position in Arvinas during the fourth quarter worth approximately $127,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

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.