Wedbush Reaffirms Outperform Rating for Arvinas (NASDAQ:ARVN)

Wedbush reissued their outperform rating on shares of Arvinas (NASDAQ:ARVN) in a report published on Wednesday, Benzinga reports. They currently have a $57.00 target price on the stock.

Several other equities research analysts also recently weighed in on ARVN. Barclays upped their target price on Arvinas from $26.00 to $60.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Oppenheimer reaffirmed an outperform rating and issued a $80.00 price objective (down previously from $95.00) on shares of Arvinas in a research report on Wednesday, February 28th. HC Wainwright restated a buy rating and issued a $87.00 target price on shares of Arvinas in a research note on Wednesday. BMO Capital Markets lifted their price target on shares of Arvinas from $89.00 to $90.00 and gave the stock an outperform rating in a research note on Wednesday, February 28th. Finally, Truist Financial reissued a buy rating and issued a $65.00 price objective on shares of Arvinas in a research report on Monday, March 25th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $61.33.

Arvinas Price Performance

NASDAQ ARVN opened at $32.37 on Wednesday. Arvinas has a 1-year low of $13.57 and a 1-year high of $53.08. The firm has a market capitalization of $2.21 billion, a P/E ratio of -4.98 and a beta of 1.95. The business’s 50-day simple moving average is $39.00 and its 200-day simple moving average is $35.55.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.97) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.45. Arvinas had a negative net margin of 185.09% and a negative return on equity of 70.24%. The company had revenue of $25.30 million during the quarter, compared to the consensus estimate of $32.94 million. During the same period in the previous year, the firm earned ($1.54) earnings per share. Arvinas’s revenue for the quarter was down 22.2% on a year-over-year basis. On average, equities research analysts expect that Arvinas will post -5.02 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Arvinas

Several hedge funds have recently made changes to their positions in ARVN. China Universal Asset Management Co. Ltd. increased its position in Arvinas by 96.3% in 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 during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Arvinas in the 1st quarter valued at about $44,000. McGlone Suttner Wealth Management Inc. acquired a new position in Arvinas during the 4th quarter valued at about $75,000. Headlands Technologies LLC grew its position in Arvinas by 393.4% in the 4th 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. increased its stake in shares of Arvinas by 13.5% in the third quarter. Sectoral Asset Management Inc. now owns 7,010 shares of the company’s stock valued at $138,000 after purchasing an additional 835 shares during the period. Institutional investors 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.