Arvinas’ (ARVN) “Buy” Rating Reiterated at Truist Financial

Truist Financial reissued their buy rating on shares of Arvinas (NASDAQ:ARVN) in a research note published on Monday, Benzinga reports. Truist Financial currently has a $65.00 price target on the stock.

A number of other research firms have also recently commented on ARVN. Wedbush lifted their price target on Arvinas from $33.00 to $59.00 and gave the stock an outperform rating in a report on Wednesday, February 28th. Jefferies Financial Group upgraded shares of Arvinas from a hold rating to a buy rating and raised their price objective for the stock from $32.00 to $40.00 in a research report on Wednesday, December 6th. Citigroup downgraded shares of Arvinas from a buy rating to a neutral rating and raised their price objective for the stock from $36.00 to $55.00 in a research report on Wednesday, February 14th. Oppenheimer restated an outperform rating and set a $80.00 price objective (down from $95.00) on shares of Arvinas in a research report on Wednesday, February 28th. Finally, Wells Fargo & Company upgraded shares of Arvinas from an equal weight rating to an overweight rating and lifted their price target for the company from $25.00 to $63.00 in a research report on Tuesday, December 19th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $59.93.

Arvinas Price Performance

Shares of NASDAQ ARVN opened at $41.28 on Monday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -6.35 and a beta of 1.95. The business has a 50-day moving average of $44.92 and a 200-day moving average of $32.52. Arvinas has a fifty-two week low of $13.57 and a fifty-two week high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($2.53) earnings per share for the quarter, missing the consensus estimate of ($1.15) by ($1.38). Arvinas had a negative net margin of 185.09% and a negative return on equity of 70.24%. The company had revenue of ($43.10) million during the quarter, compared to the consensus estimate of $38.91 million. During the same quarter in the previous year, the business earned ($1.56) EPS. On average, sell-side analysts expect that Arvinas will post -5.92 EPS for the current year.

Insider Buying and Selling at Arvinas

In other Arvinas news, CEO John G. Houston sold 5,196 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $244,471.80. Following the sale, the chief executive officer now owns 1,036,681 shares of the company’s stock, valued at $48,775,841.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO John G. Houston sold 5,196 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $244,471.80. Following the transaction, the chief executive officer now owns 1,036,681 shares in the company, valued at $48,775,841.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ronald Peck sold 1,699 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $79,937.95. Following the transaction, the insider now owns 67,516 shares in the company, valued at approximately $3,176,627.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,597 shares of company stock valued at $404,489. 2.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arvinas

Institutional investors and hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC bought a new stake in Arvinas in the 1st quarter worth about $57,000. Royal Bank of Canada grew its position in shares of Arvinas by 37.6% during the 3rd quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock valued at $54,000 after acquiring an additional 336 shares during the period. Pathstone Family Office LLC bought a new position in shares of Arvinas during the 4th quarter valued at approximately $207,000. China Universal Asset Management Co. Ltd. grew its position in shares of Arvinas by 96.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,374 shares of the company’s stock valued at $27,000 after acquiring an additional 674 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Arvinas by 1,015.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,383 shares of the company’s stock worth $34,000 after buying an additional 1,259 shares during the period. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Company Profile

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.