Arvinas (NASDAQ:ARVN) Given New $68.00 Price Target at Stifel Nicolaus

Arvinas (NASDAQ:ARVN) had its price target reduced by Stifel Nicolaus from $72.00 to $68.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 101.06% from the company’s previous close.

Several other analysts have also commented on the stock. Oppenheimer reiterated an “outperform” rating and issued a $80.00 price target (down from $95.00) on shares of Arvinas in a research report on Wednesday, February 28th. Leerink Partnrs restated an “outperform” rating on shares of Arvinas in a research report on Thursday, February 22nd. Truist Financial reiterated a “buy” rating and set a $65.00 price objective on shares of Arvinas in a research report on Monday, March 25th. BMO Capital Markets upped their price objective on shares of Arvinas from $89.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Finally, HC Wainwright restated a “buy” rating and set a $87.00 target price on shares of Arvinas in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.47.

Arvinas Price Performance

Shares of ARVN stock traded down $0.51 during midday trading on Wednesday, reaching $33.82. 26,080 shares of the company traded hands, compared to its average volume of 715,668. The firm has a market cap of $2.31 billion, a PE ratio of -5.20 and a beta of 1.95. The firm’s 50 day simple moving average is $39.27 and its two-hundred day simple moving average is $35.57. Arvinas has a 1-year low of $13.57 and a 1-year high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.97) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.45. Arvinas had a negative return on equity of 70.24% and a negative net margin of 185.09%. The business had revenue of $25.30 million during the quarter, compared to analysts’ expectations of $32.94 million. During the same quarter last year, the business posted ($1.54) earnings per share. The business’s revenue for the quarter was down 22.2% on a year-over-year basis. As a group, research analysts anticipate that Arvinas will post -5.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Arvinas

In other news, insider Ronald Peck sold 1,699 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $47.05, for a total value of $79,937.95. Following the completion of the sale, the insider now owns 67,516 shares in the company, valued at $3,176,627.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Ronald Peck sold 1,699 shares of the firm’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 $79,937.95. Following the completion of the sale, the insider now directly owns 67,516 shares of the company’s stock, valued at approximately $3,176,627.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sean A. Cassidy sold 1,702 shares of Arvinas stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction of $80,079.10. Following the sale, the chief financial officer now directly owns 181,916 shares in the company, valued at approximately $8,559,147.80. The disclosure for this sale can be found here. Insiders have sold 8,597 shares of company stock valued at $404,489 over the last three months. 5.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arvinas

Hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. grew its position in shares of Arvinas by 96.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,374 shares of the company’s stock worth $27,000 after buying an additional 674 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Arvinas in the 1st quarter worth about $44,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Arvinas in the 4th quarter worth about $75,000. Headlands Technologies LLC lifted its position in shares of Arvinas by 393.4% during the fourth quarter. Headlands Technologies LLC now owns 2,388 shares of the company’s stock worth $98,000 after purchasing an additional 1,904 shares during the last quarter. Finally, Sectoral Asset Management Inc. grew its stake in Arvinas by 13.5% in the third quarter. Sectoral Asset Management Inc. now owns 7,010 shares of the company’s stock worth $138,000 after purchasing an additional 835 shares in the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.

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.