Arvinas’ (ARVN) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Arvinas (NASDAQ:ARVN) in a report issued on Friday,Benzinga reports. The firm currently has a $14.00 price target on the stock, down from their prior price target of $24.00.

Several other equities research analysts also recently weighed in on the company. BMO Capital Markets set a $20.00 target price on Arvinas and gave the stock an “outperform” rating in a research report on Wednesday, March 12th. Morgan Stanley lowered their price objective on shares of Arvinas from $48.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Barclays reduced their target price on shares of Arvinas from $32.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday. Bank of America lowered their price target on shares of Arvinas from $54.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Finally, Wells Fargo & Company set a $26.00 price objective on shares of Arvinas and gave the stock an “overweight” rating in a report on Wednesday, March 12th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.82.

Arvinas Stock Performance

Shares of NASDAQ:ARVN opened at $7.72 on Friday. The stock has a 50-day simple moving average of $9.66 and a 200-day simple moving average of $17.37. The stock has a market capitalization of $563.49 million, a P/E ratio of -2.79 and a beta of 2.21. Arvinas has a 1 year low of $5.94 and a 1 year high of $37.38.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $2.07. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period last year, the company earned ($0.97) earnings per share. The firm’s revenue for the quarter was up 646.2% compared to the same quarter last year. Analysts predict that Arvinas will post -3.81 earnings per share for the current year.

Insider Transactions at Arvinas

In other news, insider Ian Taylor sold 9,020 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.71, for a total value 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Noah Berkowitz sold 8,658 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total transaction of $74,372.22. Following the sale, the insider now directly owns 110,023 shares of the company’s stock, valued at approximately $945,097.57. This represents a 7.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,230 shares of company stock worth $769,402. 5.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arvinas

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Arvinas during the 4th quarter worth approximately $42,332,000. Norges Bank acquired a new stake in Arvinas in the fourth quarter worth $23,845,000. Boxer Capital Management LLC bought a new stake in Arvinas in the fourth quarter valued at $20,294,000. RTW Investments LP boosted its holdings in shares of Arvinas by 19.8% during the fourth quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock valued at $63,919,000 after acquiring an additional 551,979 shares during the period. Finally, ArrowMark Colorado Holdings LLC grew its position in shares of Arvinas by 42.8% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,776,555 shares of the company’s stock worth $34,057,000 after acquiring an additional 532,105 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

About Arvinas

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.