HC Wainwright Reiterates Buy Rating for Arvinas (NASDAQ:ARVN)

by · The Cerbat Gem

HC Wainwright reaffirmed their buy rating on shares of Arvinas (NASDAQ:ARVN – Free Report) in a research report report published on Tuesday,Benzinga reports. HC Wainwright currently has a $81.00 price target on the stock.

ARVN has been the topic of several other research reports. Wedbush reissued an “outperform” rating and set a $57.00 price target on shares of Arvinas in a research report on Tuesday, February 11th. Barclays reduced their target price on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Oppenheimer cut shares of Arvinas from an “outperform” rating to a “market perform” rating in a report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. Finally, Stifel Nicolaus reduced their target price on shares of Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.47.

Read Our Latest Research Report on Arvinas

Arvinas Price Performance

Shares of ARVN stock opened at $8.55 on Tuesday. The firm has a market cap of $588.00 million, a PE ratio of -3.09 and a beta of 1.95. Arvinas has a 1-year low of $7.91 and a 1-year high of $46.23. The company has a 50-day moving average of $17.77 and a two-hundred day moving average of $22.11.

Arvinas (NASDAQ:ARVN – Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same quarter in the previous year, the firm earned ($2.53) EPS. Sell-side analysts anticipate that Arvinas will post -3.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ian Taylor sold 9,020 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.71, for a total transaction of $150,724.20. Following the transaction, the insider now directly owns 159,121 shares in the company, valued at approximately $2,658,911.91. This trade represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John G. Houston sold 31,338 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.72, for a total transaction of $523,971.36. Following the transaction, the chief executive officer now owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,572 shares of company stock valued at $695,030. 5.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arvinas

Hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. purchased a new position in shares of Arvinas during the fourth quarter worth approximately $28,000. KBC Group NV grew its position in shares of Arvinas by 77.0% during the fourth quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after acquiring an additional 1,255 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Arvinas by 147.3% during the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after acquiring an additional 2,601 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Arvinas during the fourth quarter worth approximately $171,000. Finally, Tema Etfs LLC purchased a new position in shares of Arvinas during the fourth quarter worth approximately $227,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Company Profile

(Get Free Report)

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.

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