BTIG Research Forecasts Strong Price Appreciation for Arvinas (NASDAQ:ARVN) Stock

Arvinas (NASDAQ:ARVN) had its price objective boosted by equities research analysts at BTIG Research from $14.00 to $16.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 46.25% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Wedbush lifted their target price on Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Arvinas in a research note on Monday, December 22nd. Barclays increased their price objective on shares of Arvinas from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Wall Street Zen downgraded shares of Arvinas from a “hold” rating to a “sell” rating in a report on Monday, March 2nd. Finally, Citigroup upped their target price on shares of Arvinas from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Ten research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.88.

Arvinas Stock Performance

Shares of ARVN stock opened at $10.94 on Thursday. The stock has a fifty day simple moving average of $12.70 and a two-hundred day simple moving average of $11.15. The firm has a market capitalization of $699.73 million, a PE ratio of -8.55 and a beta of 1.87. Arvinas has a 52-week low of $5.90 and a 52-week high of $14.51.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.55). The business had revenue of $9.50 million during the quarter, compared to analysts’ expectations of $37.26 million. Arvinas had a negative net margin of 30.77% and a negative return on equity of 14.25%. Arvinas’s revenue was down 84.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.63) earnings per share. On average, sell-side analysts forecast that Arvinas will post -3.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Randy Teel sold 4,786 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $12.16, for a total value of $58,197.76. Following the completion of the sale, the chief executive officer owned 149,696 shares in the company, valued at approximately $1,820,303.36. This trade represents a 3.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Noah Berkowitz sold 6,435 shares of Arvinas stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $11.10, for a total transaction of $71,428.50. Following the transaction, the insider directly owned 202,503 shares of the company’s stock, valued at approximately $2,247,783.30. This represents a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 63,864 shares of company stock valued at $802,443. 4.73% of the stock is currently owned by company insiders.

Institutional Trading of Arvinas

Several institutional investors have recently added to or reduced their stakes in the company. TCG Crossover Management LLC purchased a new position in shares of Arvinas during the third quarter valued at approximately $13,780,000. Balyasny Asset Management L.P. raised its holdings in shares of Arvinas by 469.1% in the third quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock worth $10,286,000 after buying an additional 995,125 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of Arvinas by 154.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock worth $12,668,000 after acquiring an additional 903,337 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Arvinas by 208.4% during the 1st quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock worth $9,198,000 after acquiring an additional 885,483 shares during the last quarter. Finally, Armistice Capital LLC boosted its holdings in Arvinas by 114.3% during the 3rd quarter. Armistice Capital LLC now owns 1,200,000 shares of the company’s stock valued at $10,224,000 after acquiring an additional 640,000 shares during the period. Institutional investors own 95.19% of the company’s stock.

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.