Arvinas (NASDAQ:ARVN) Price Target Raised to $21.00

Arvinas (NASDAQ:ARVN) had its price objective lifted by Citigroup from $18.00 to $21.00 in a report published on Thursday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Wedbush upped their price target on shares of Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arvinas in a research report on Monday, December 22nd. BTIG Research upped their target price on shares of Arvinas from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday. Truist Financial set a $10.00 target price on Arvinas in a report on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $20.00 price target (up from $16.00) on shares of Arvinas in a research note on Wednesday, February 25th. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.88.

Arvinas Price Performance

Arvinas stock opened at $10.94 on Thursday. The firm has a market capitalization of $699.72 million, a price-to-earnings ratio of -8.55 and a beta of 1.87. The company’s 50 day simple moving average is $12.70 and its 200 day simple moving average is $11.17. Arvinas has a fifty-two week low of $5.90 and a fifty-two week high of $14.51.

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

Insider Buying and Selling

In other news, CEO Randy Teel sold 4,786 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $12.16, for a total value of $58,197.76. Following the sale, the chief executive officer owned 149,696 shares of the company’s stock, valued at $1,820,303.36. The trade was a 3.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Briggs Morrison bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average cost of $13.40 per share, with a total value of $268,000.00. Following the transaction, the director owned 96,021 shares of the company’s stock, valued at $1,286,681.40. This represents a 26.31% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 63,864 shares of company stock valued at $802,443 over the last ninety days. Insiders own 4.73% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC boosted its position in Arvinas by 7.2% during the fourth quarter. ProShare Advisors LLC now owns 14,827 shares of the company’s stock valued at $176,000 after purchasing an additional 993 shares during the last quarter. Intech Investment Management LLC grew its stake in Arvinas by 3.6% in the third quarter. Intech Investment Management LLC now owns 32,653 shares of the company’s stock valued at $278,000 after purchasing an additional 1,125 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Arvinas by 4.3% during the 4th quarter. MetLife Investment Management LLC now owns 33,810 shares of the company’s stock worth $401,000 after purchasing an additional 1,381 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Arvinas by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock worth $271,000 after purchasing an additional 2,122 shares during the last quarter. Finally, Oxford Asset Management LLP raised its stake in shares of Arvinas by 15.5% during the 2nd quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock worth $123,000 after purchasing an additional 2,242 shares in the last quarter. 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.