Arvinas (NASDAQ:ARVN) Stock Price Expected to Rise, Barclays Analyst Says

Arvinas (NASDAQ:ARVN) had its price objective boosted by equities researchers at Barclays from $15.00 to $16.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 50.52% from the company’s current price.

ARVN has been the subject of several other reports. Wells Fargo & Company cut their price objective on shares of Arvinas from $19.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Arvinas in a research note on Wednesday, October 8th. Guggenheim reduced their price target on shares of Arvinas from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Stephens decreased their price objective on Arvinas from $16.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, September 18th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $16.00 price objective on shares of Arvinas in a research report on Tuesday, October 7th. Eleven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Arvinas currently has an average rating of “Hold” and a consensus price target of $16.34.

Arvinas Stock Performance

Shares of Arvinas stock opened at $10.63 on Thursday. The business’s 50 day moving average price is $8.83 and its 200 day moving average price is $7.92. The company has a market cap of $682.66 million, a price-to-earnings ratio of -13.12 and a beta of 2.38. Arvinas has a one year low of $5.90 and a one year high of $28.70.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.27. Arvinas had a negative return on equity of 9.77% and a negative net margin of 18.73%.The business had revenue of $41.90 million during the quarter, compared to the consensus estimate of $29.36 million. During the same period last year, the company earned ($0.68) EPS. The company’s revenue for the quarter was down 59.1% on a year-over-year basis. On average, analysts predict that Arvinas will post -3.81 EPS for the current fiscal year.

Arvinas declared that its board has authorized a share buyback program on Wednesday, September 17th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 17.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Arvinas

In other news, Director Briggs Morrison bought 30,000 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were bought at an average price of $7.57 per share, with a total value of $227,100.00. Following the completion of the transaction, the director directly owned 76,021 shares in the company, valued at $575,478.97. This trade represents a 65.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arvinas

A number of institutional investors have recently modified their holdings of ARVN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Arvinas by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock valued at $271,000 after buying an additional 2,122 shares during the period. Oxford Asset Management LLP boosted its holdings in Arvinas by 15.5% during the 2nd quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock valued at $123,000 after acquiring an additional 2,242 shares during the period. Nebula Research & Development LLC grew its position in Arvinas by 3.9% in the 2nd quarter. Nebula Research & Development LLC now owns 76,747 shares of the company’s stock valued at $565,000 after acquiring an additional 2,910 shares in the last quarter. AlphaQuest LLC increased its stake in Arvinas by 18.7% during the second quarter. AlphaQuest LLC now owns 19,573 shares of the company’s stock worth $144,000 after purchasing an additional 3,086 shares during the period. Finally, Woodline Partners LP lifted its position in shares of Arvinas by 0.5% during the first quarter. Woodline Partners LP now owns 695,945 shares of the company’s stock worth $4,886,000 after purchasing an additional 3,212 shares in the last quarter. 95.19% of the stock is 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.