Brokerages Set Arvinas, Inc. (NASDAQ:ARVN) Price Target at $14.17

Shares of Arvinas, Inc. (NASDAQ:ARVN) have been given an average rating of “Hold” by the eleven brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $14.1667.

A number of equities analysts have issued reports on ARVN shares. Zacks Research raised shares of Arvinas from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Evercore set a $14.00 target price on shares of Arvinas in a research report on Monday, August 10th. Wells Fargo & Company reissued an “equal weight” rating and issued a $11.00 price target (down from $15.00) on shares of Arvinas in a research note on Tuesday, August 4th. Citigroup reduced their price target on Arvinas from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Finally, Morgan Stanley set a $10.00 price objective on Arvinas in a research note on Monday, August 10th.

Insider Activity

In other news, CFO Andrew Saik sold 5,696 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $8.16, for a total transaction of $46,479.36. Following the completion of the transaction, the chief financial officer directly owned 187,432 shares in the company, valued at approximately $1,529,445.12. The trade was a 2.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Arvinas by 491.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after purchasing an additional 4,835 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Arvinas by 109.4% during the 2nd 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. Quantbot Technologies LP bought a new stake in Arvinas during the 2nd quarter worth approximately $85,000. Abel Hall LLC acquired a new stake in Arvinas during the 4th quarter worth approximately $125,000. Finally, Corient Private Wealth LLC acquired a new stake in Arvinas during the 4th quarter worth approximately $127,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Trading Up 3.8%

Shares of NASDAQ ARVN opened at $9.36 on Wednesday. Arvinas has a 1-year low of $6.97 and a 1-year high of $14.51. The company has a 50-day moving average of $8.37 and a two-hundred day moving average of $9.98. The company has a market cap of $603.91 million, a PE ratio of 93.61 and a beta of 1.71.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, August 4th. The company reported $2.58 EPS for the quarter, beating the consensus estimate of ($0.37) by $2.95. The business had revenue of $249.70 million for the quarter, compared to analysts’ expectations of $60.71 million. Arvinas had a net margin of 2.94% and a return on equity of 1.91%. Arvinas’s revenue was up 1014.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.84) earnings per share. As a group, equities research analysts forecast that Arvinas will post -0.27 earnings per share for the current year.

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.