Arvinas (NASDAQ:ARVN) Stock Price Expected to Rise, BTIG Research Analyst Says

Arvinas (NASDAQ:ARVN) had its price objective boosted by equities research analysts at BTIG Research from $14.00 to $16.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target would indicate a potential upside of 46.92% from the company’s previous close.

A number of other equities research analysts also recently weighed in on ARVN. Citigroup upped their target price on Arvinas from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Barclays boosted their price objective on shares of Arvinas from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. Piper Sandler reissued an “overweight” rating and set a $20.00 target price (up from $16.00) on shares of Arvinas in a research note on Wednesday, February 25th. Truist Financial set a $10.00 price target on shares of Arvinas in a research note on Wednesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arvinas in a report on Monday, December 22nd. Ten investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.71.

Arvinas Stock Down 9.3%

Shares of ARVN stock opened at $10.89 on Thursday. Arvinas has a fifty-two week low of $5.90 and a fifty-two week high of $14.51. The firm’s 50 day moving average price is $12.74 and its two-hundred day moving average price is $11.13. The stock has a market cap of $696.52 million, a price-to-earnings ratio of -8.51 and a beta of 1.87.

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

Insider Activity at Arvinas

In related news, Director John G. Houston sold 35,297 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $13.21, for a total transaction of $466,273.37. Following the completion of the sale, the director owned 1,122,183 shares in the company, valued at $14,824,037.43. This trade represents a 3.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Randy Teel sold 4,786 shares of Arvinas stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $12.16, for a total transaction of $58,197.76. Following the completion of the transaction, the chief executive officer owned 149,696 shares of the company’s stock, valued at $1,820,303.36. This trade represents a 3.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 57,429 shares of company stock valued at $731,014. Corporate insiders own 4.73% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB grew its stake in Arvinas by 28.7% during the third quarter. Nordea Investment Management AB now owns 557,742 shares of the company’s stock worth $4,730,000 after buying an additional 124,254 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its position in shares of Arvinas by 307.7% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 223,576 shares of the company’s stock worth $1,905,000 after purchasing an additional 168,744 shares in the last quarter. SG Americas Securities LLC bought a new stake in Arvinas in the 2nd quarter valued at about $390,000. 22NW LP acquired a new position in Arvinas during the 2nd quarter worth approximately $3,044,000. Finally, Velan Capital Investment Management LP acquired a new position in Arvinas during the 2nd quarter worth approximately $3,680,000. 95.19% of the stock is owned by 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.