Arvinas’ (ARVN) “Overweight” Rating Reaffirmed at Stephens

Stephens reissued their overweight rating on shares of Arvinas (NASDAQ:ARVN) in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a $18.00 target price on the stock.

A number of other analysts have also recently commented on ARVN. Citigroup upped their price objective on Arvinas from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Wedbush upped their price objective on Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Truist Financial set a $10.00 price objective on Arvinas in a research report on Wednesday, March 18th. Weiss Ratings cut Arvinas from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 19th. Finally, Wall Street Zen cut Arvinas from a “hold” rating to a “sell” rating in a research report on Monday, March 2nd. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Arvinas presently has a consensus rating of “Hold” and an average price target of $15.42.

Arvinas Stock Performance

Arvinas stock opened at $7.70 on Wednesday. The stock has a market cap of $496.80 million, a PE ratio of -2.32 and a beta of 1.74. Arvinas has a one year low of $6.05 and a one year high of $14.51. The stock has a fifty day moving average of $10.04 and a 200 day moving average of $11.56.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.05. The company had revenue of $15.60 million during the quarter, compared to analysts’ expectations of $16.61 million. Arvinas had a negative return on equity of 44.38% and a negative net margin of 247.54%.Arvinas’s revenue for the quarter was down 91.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 earnings per share. As a group, sell-side analysts predict that Arvinas will post -2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Arvinas news, insider Noah Berkowitz sold 11,108 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $9.94, for a total value of $110,413.52. Following the completion of the sale, the insider owned 191,395 shares in the company, valued at $1,902,466.30. This represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrew Saik sold 11,139 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $9.94, for a total value of $110,721.66. Following the completion of the sale, the chief financial officer owned 193,128 shares of the company’s stock, valued at approximately $1,919,692.32. The trade was a 5.45% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 42,467 shares of company stock worth $427,598. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in shares of Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after purchasing an additional 4,835 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Arvinas by 109.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock valued at $49,000 after purchasing an additional 3,500 shares during the last quarter. State of Wyoming bought a new stake in shares of Arvinas in the 3rd quarter valued at approximately $68,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Arvinas in the 3rd quarter valued at approximately $92,000. Finally, Jain Global LLC bought a new stake in shares of Arvinas in the 3rd quarter valued at approximately $95,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Company Profile

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.