Arvinas, Inc. (NASDAQ:ARVN) Receives $16.50 Average PT from Analysts

Arvinas, Inc. (NASDAQ:ARVN) has received a consensus recommendation of “Hold” from the twenty-three brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $16.7895.

Several analysts recently weighed in on the company. Piper Sandler restated an “overweight” rating and set a $16.00 target price on shares of Arvinas in a research note on Tuesday, October 7th. The Goldman Sachs Group reiterated a “sell” rating and set a $6.00 price target (down from $8.00) on shares of Arvinas in a report on Wednesday, October 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arvinas in a research report on Monday, December 22nd. Bank of America lowered shares of Arvinas from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research report on Wednesday, September 24th. Finally, BTIG Research upped their target price on shares of Arvinas from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, October 30th.

Institutional Investors Weigh In On Arvinas

Institutional investors have recently added to or reduced their stakes in the company. TCG Crossover Management LLC bought a new position in Arvinas during the third quarter valued at about $13,780,000. Acadian Asset Management LLC grew its holdings in shares of Arvinas by 791.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,427,832 shares of the company’s stock worth $10,498,000 after purchasing an additional 1,267,593 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of Arvinas by 469.1% during the third quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock valued at $10,286,000 after purchasing an additional 995,125 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Arvinas by 154.8% during the third quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock valued at $12,668,000 after purchasing an additional 903,337 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Arvinas by 208.4% in the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock valued at $9,198,000 after purchasing an additional 885,483 shares in the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

Arvinas Price Performance

Shares of ARVN opened at $12.18 on Tuesday. The company has a market capitalization of $782.25 million, a PE ratio of -15.04 and a beta of 1.89. Arvinas has a one year low of $5.90 and a one year high of $20.38. The company’s fifty day moving average price is $11.70 and its 200 day moving average price is $9.31.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.27. The company had revenue of $41.90 million during the quarter, compared to analysts’ expectations of $29.36 million. Arvinas had a negative net margin of 18.73% and a negative return on equity of 9.77%. The business’s quarterly revenue was down 59.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.68) earnings per share. Analysts anticipate that Arvinas will post -3.81 earnings per share for the current year.

Arvinas declared that its board has initiated a stock repurchase program on Wednesday, September 17th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 17.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

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.