Arvinas, Inc. (NASDAQ:ARVN) Receives $14.17 Consensus Price Target from Analysts

by · The Markets Daily

Arvinas, Inc. (NASDAQ:ARVN – Get Free Report) has received a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $14.1667.

A number of brokerages have recently weighed in on ARVN. Evercore set a $14.00 price target on Arvinas in a report on Monday, August 10th. Citigroup reduced their price objective on Arvinas from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Wall Street Zen raised shares of Arvinas from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. BTIG Research reiterated a “buy” rating and set a $18.00 target price on shares of Arvinas in a research note on Tuesday, August 4th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $11.00 target price (down from $15.00) on shares of Arvinas in a report on Tuesday, August 4th.

Get Our Latest Analysis on ARVN

Insider Activity at Arvinas

In related news, CFO Andrew Saik sold 5,696 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $8.16, for a total transaction of $46,479.36. Following the completion of the sale, the chief financial officer owned 187,432 shares of the company’s stock, valued at $1,529,445.12. This represents a 2.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Large investors have recently bought and sold shares of the business. Engineers Gate Manager LP acquired a new position in Arvinas in the second quarter valued at approximately $601,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Arvinas during the 2nd quarter worth approximately $48,000. Squarepoint Ops LLC raised its position in shares of Arvinas by 760.3% during the 2nd quarter. Squarepoint Ops LLC now owns 201,822 shares of the company’s stock worth $1,677,000 after purchasing an additional 178,362 shares during the period. Corient Private Wealth LP raised its position in shares of Arvinas by 15.9% during the 2nd quarter. Corient Private Wealth LP now owns 11,945 shares of the company’s stock worth $99,000 after purchasing an additional 1,637 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Arvinas in the 2nd quarter worth approximately $310,000. Institutional investors own 95.19% of the company’s stock.

Arvinas Stock Performance

NASDAQ:ARVN opened at $8.26 on Friday. The company has a market capitalization of $532.94 million, a price-to-earnings ratio of 82.61 and a beta of 1.75. Arvinas has a one year low of $6.97 and a one year high of $14.51. The stock has a 50-day simple moving average of $8.73 and a 200 day simple moving average of $9.53.

Arvinas (NASDAQ:ARVN – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $2.95. The firm had revenue of $249.70 million for the quarter, compared to analysts’ expectations of $60.71 million. Arvinas had a return on equity of 1.91% and a net margin of 2.94%.Arvinas’s revenue for the quarter was up 1014.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.84) earnings per share. On average, equities research analysts forecast that Arvinas will post 0.05 EPS for the current fiscal year.

About Arvinas

(Get Free Report)

Arvinas, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively remove disease-causing proteins from cells. The company’s approach, known as targeted protein degradation, uses proprietary PROTAC technology to direct specific proteins to the cell’s natural disposal machinery. Arvinas applies this platform primarily to cancer and other serious diseases in which abnormal or unwanted proteins contribute to disease progression.

Arvinas’ pipeline has included vepdegestrant, formerly known as ARV-471, an investigational oral estrogen receptor degrader being developed for patients with estrogen receptor-positive, HER2-negative breast cancer.

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