Arvinas, Inc. (NASDAQ:ARVN) Receives $16.18 Consensus PT from Analysts

Shares of Arvinas, Inc. (NASDAQ:ARVN) have received a consensus recommendation of “Hold” from the twenty-three brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $16.1842.

ARVN has been the subject of several recent analyst reports. Guggenheim reduced their price objective on shares of Arvinas from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Wedbush restated a “neutral” rating and set a $9.00 target price (down from $10.00) on shares of Arvinas in a report on Thursday, September 18th. Bank of America downgraded shares of Arvinas from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a report on Wednesday, September 24th. Wells Fargo & Company lowered their price target on shares of Arvinas from $19.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Finally, BTIG Research lowered their price target on shares of Arvinas from $16.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, September 18th.

Arvinas Trading Up 3.7%

Shares of ARVN stock opened at $9.61 on Friday. The company has a market cap of $705.57 million, a price-to-earnings ratio of -9.51 and a beta of 2.39. The stock has a 50 day simple moving average of $7.63 and a 200-day simple moving average of $7.54. Arvinas has a 12-month low of $5.90 and a 12-month high of $29.61.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.84) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.03. Arvinas had a negative return on equity of 12.01% and a negative net margin of 19.47%.The firm had revenue of $22.40 million for the quarter, compared to analyst estimates of $34.42 million. During the same quarter in the prior year, the company posted ($0.49) earnings per share. Arvinas’s quarterly revenue was down 70.7% on a year-over-year basis. On average, equities analysts forecast that Arvinas will post -3.81 earnings per share 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 repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 17.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Arvinas

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

Institutional Trading of Arvinas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARVN. Alyeska Investment Group L.P. acquired a new stake in shares of Arvinas during the 1st quarter worth about $12,636,000. Vanguard Group Inc. lifted its stake in shares of Arvinas by 18.4% during the first quarter. Vanguard Group Inc. now owns 8,362,200 shares of the company’s stock valued at $58,703,000 after buying an additional 1,299,639 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Arvinas by 791.1% during the second quarter. Acadian Asset Management LLC now owns 1,427,832 shares of the company’s stock valued at $10,498,000 after buying an additional 1,267,593 shares during the period. Philosophy Capital Management LLC purchased a new position in shares of Arvinas during the first quarter valued at approximately $6,992,000. Finally, Federated Hermes Inc. raised its holdings in Arvinas by 1,965.0% in the 1st quarter. Federated Hermes Inc. now owns 980,674 shares of the company’s stock valued at $6,884,000 after acquiring an additional 933,183 shares during the last quarter. Hedge funds and other 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.