Arvinas (NASDAQ:ARVN) Rating Increased to Buy at ValuEngine

Arvinas (NASDAQ:ARVN) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday, ValuEngine reports.

Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Arvinas from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Friday, June 7th. Evercore ISI initiated coverage on Arvinas in a report on Thursday, April 11th. They issued an “outperform” rating for the company. Piper Jaffray Companies increased their price target on Arvinas from $23.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Finally, Citigroup downgraded Arvinas from a “buy” rating to a “neutral” rating and increased their price target for the company from $21.00 to $22.00 in a report on Wednesday, June 5th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Arvinas currently has a consensus rating of “Buy” and a consensus price target of $23.50.

Shares of ARVN stock traded down $0.63 on Thursday, reaching $24.69. 93,838 shares of the stock were exchanged, compared to its average volume of 148,747. The stock has a market cap of $862.46 million and a PE ratio of -0.97. The company has a current ratio of 8.73, a quick ratio of 8.73 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $24.19. Arvinas has a 1-year low of $10.19 and a 1-year high of $28.25.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.46) EPS for the quarter, hitting analysts’ consensus estimates of ($0.46). The firm had revenue of $4.02 million for the quarter, compared to analyst estimates of $3.50 million. As a group, equities analysts forecast that Arvinas will post -1.86 EPS for the current fiscal year.

In related news, CFO Sean A. Cassidy sold 11,945 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $26.22, for a total value of $313,197.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ventures Iii L.P. 5Am sold 190,000 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $19.65, for a total value of $3,733,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,011,945 shares of company stock valued at $21,761,398. 31.77% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Arvinas by 109.2% during the fourth quarter. BlackRock Inc. now owns 545,443 shares of the company’s stock valued at $7,009,000 after acquiring an additional 284,656 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Arvinas during the fourth quarter valued at about $135,000. Northern Trust Corp acquired a new stake in shares of Arvinas during the fourth quarter valued at about $982,000. American International Group Inc. acquired a new stake in shares of Arvinas during the fourth quarter valued at about $66,000. Finally, Spark Investment Management LLC grew its stake in shares of Arvinas by 91.9% during the first quarter. Spark Investment Management LLC now owns 35,500 shares of the company’s stock valued at $523,000 after acquiring an additional 17,000 shares in the last quarter. Hedge funds and other institutional investors own 42.92% of the company’s stock.

Arvinas Company Profile

Arvinas, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead products include ARV-110, proteolysis targeting chimeras (PROTAC) that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer; and ARV-471, a PROTAC targeting the estrogen receptor protein for the treatment of women with metastatic ER positive/HER2 negative breast cancer.

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