Arvinas, Inc. (NASDAQ:ARVN) Receives $16.39 Average PT from Brokerages

Shares of Arvinas, Inc. (NASDAQ:ARVN) have earned an average rating of “Hold” from the twenty-three analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $16.3947.

A number of research firms recently issued reports on ARVN. Wedbush reiterated a “neutral” rating and set a $9.00 price objective on shares of Arvinas in a report on Thursday, November 6th. Piper Sandler reiterated an “overweight” rating and issued a $16.00 price objective on shares of Arvinas in a report on Tuesday, October 7th. Wells Fargo & Company reduced their target price on shares of Arvinas from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arvinas in a research report on Tuesday, December 9th. Finally, Bank of America cut shares of Arvinas from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research report on Wednesday, September 24th.

Arvinas Price Performance

NASDAQ ARVN opened at $12.58 on Friday. Arvinas has a one year low of $5.90 and a one year high of $21.00. The firm has a market cap of $807.89 million, a P/E ratio of -15.53 and a beta of 2.44. The stock’s 50-day moving average is $10.80 and its 200-day moving average is $8.74.

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

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

Insiders Place Their Bets

In other news, Director Briggs Morrison bought 30,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were acquired at an average cost of $7.57 per share, for a total transaction of $227,100.00. Following the completion of the acquisition, the director owned 76,021 shares in the company, valued at approximately $575,478.97. This represents a 65.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Tudor Investment Corp ET AL acquired a new stake in Arvinas during the third quarter worth approximately $291,000. Jacobs Levy Equity Management Inc. lifted its holdings in Arvinas by 26.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 222,480 shares of the company’s stock worth $1,896,000 after purchasing an additional 46,238 shares during the last quarter. Armistice Capital LLC lifted its holdings in Arvinas by 114.3% during the 3rd quarter. Armistice Capital LLC now owns 1,200,000 shares of the company’s stock worth $10,224,000 after purchasing an additional 640,000 shares during the last quarter. Caxton Associates LLP boosted its stake in Arvinas by 102.9% in the 3rd quarter. Caxton Associates LLP now owns 604,785 shares of the company’s stock valued at $5,153,000 after purchasing an additional 306,723 shares during the period. Finally, TCG Crossover Management LLC acquired a new position in Arvinas in the 3rd quarter valued at $13,780,000. 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.