Arvinas (NASDAQ:ARVN) Price Target Raised to $18.00 at Citigroup

Arvinas (NASDAQ:ARVN) had its target price boosted by Citigroup from $15.00 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other analysts have also recently commented on the stock. Wall Street Zen cut shares of Arvinas from a “hold” rating to a “sell” rating in a research note on Monday. Barclays lifted their target price on Arvinas from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Wedbush increased their price target on Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Piper Sandler restated an “overweight” rating and set a $20.00 price target (up from $16.00) on shares of Arvinas in a report on Wednesday, February 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arvinas in a research note on Monday, December 22nd. Ten research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Arvinas has a consensus rating of “Hold” and a consensus price target of $13.65.

Arvinas Trading Down 0.3%

NASDAQ ARVN opened at $13.72 on Thursday. Arvinas has a 12 month low of $5.90 and a 12 month high of $18.93. The stock has a market cap of $877.53 million, a PE ratio of -10.72 and a beta of 1.87. The stock’s 50 day moving average is $12.59 and its 200 day moving average is $10.78.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.55). Arvinas had a negative net margin of 30.77% and a negative return on equity of 14.25%. The company had revenue of $9.50 million for the quarter, compared to analysts’ expectations of $37.26 million. During the same period last year, the business earned ($0.63) earnings per share. The company’s quarterly revenue was down 84.0% compared to the same quarter last year. On average, analysts forecast that Arvinas will post -3.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Noah Berkowitz sold 5,685 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $11.89, for a total transaction of $67,594.65. Following the sale, the insider owned 163,938 shares in the company, valued at approximately $1,949,222.82. This represents a 3.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Saik sold 5,134 shares of Arvinas stock in a transaction on Friday, February 13th. The stock was sold at an average price of $11.89, for a total transaction of $61,043.26. Following the transaction, the chief financial officer directly owned 159,267 shares of the company’s stock, valued at $1,893,684.63. The trade was a 3.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 57,429 shares of company stock worth $731,014. 4.73% of the stock is 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 the company. Tower Research Capital LLC TRC lifted its stake in Arvinas by 491.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after purchasing an additional 4,835 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Arvinas by 109.4% during the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock valued at $49,000 after buying an additional 3,500 shares during the last quarter. State of Wyoming purchased a new stake in shares of Arvinas in the third quarter worth approximately $68,000. Abel Hall LLC bought a new stake in shares of Arvinas during the 4th quarter worth approximately $125,000. Finally, Corient Private Wealth LLC purchased a new position in Arvinas during the 4th quarter valued at $127,000. 95.19% of the stock is owned by hedge funds and other institutional investors.

Arvinas Company Profile

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.