Arvinas, Inc. (NASDAQ:ARVN) Given Average Recommendation of “Hold” by Brokerages

Arvinas, Inc. (NASDAQ:ARVN) has earned a consensus recommendation of “Hold” from the twenty-three ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $16.50.

A number of equities analysts have weighed in on ARVN shares. Stephens upped their price target on Arvinas from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Wedbush restated a “neutral” rating and set a $9.00 target price on shares of Arvinas in a report on Thursday, November 6th. Wells Fargo & Company decreased their target price on shares of Arvinas from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. The Goldman Sachs Group reiterated a “sell” rating and issued a $6.00 price target (down from $8.00) on shares of Arvinas in a research note on Wednesday, October 15th. Finally, Piper Sandler restated an “overweight” rating and set a $16.00 price objective on shares of Arvinas in a research note on Tuesday, October 7th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ARVN. Monaco Asset Management SAM raised its stake in shares of Arvinas by 185.6% during the 2nd quarter. Monaco Asset Management SAM now owns 900,936 shares of the company’s stock worth $6,631,000 after purchasing an additional 585,477 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Arvinas by 791.1% in the second quarter. Acadian Asset Management LLC now owns 1,427,832 shares of the company’s stock valued at $10,498,000 after buying an additional 1,267,593 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Arvinas during the second quarter worth $404,000. SG Americas Securities LLC bought a new stake in Arvinas during the second quarter worth $390,000. Finally, Palumbo Wealth Management LLC acquired a new stake in Arvinas in the second quarter valued at $492,000. 95.19% of the stock is currently owned by institutional investors.

Arvinas Price Performance

ARVN opened at $11.17 on Tuesday. The company has a market capitalization of $717.34 million, a price-to-earnings ratio of -13.79 and a beta of 1.89. The business’s 50-day moving average price is $11.55 and its two-hundred day moving average price is $9.24. Arvinas has a 1 year low of $5.90 and a 1 year high of $20.90.

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

Arvinas announced 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 buy up to 17.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

About Arvinas

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.