Arvinas (NASDAQ:ARVN) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Arvinas (NASDAQ:ARVN) in a research report report published on Friday morning, Benzinga reports. The firm currently has a $87.00 target price on the stock.

Several other analysts have also issued reports on the stock. Barclays lifted their target price on shares of Arvinas from $26.00 to $60.00 and gave the company an overweight rating in a research report on Thursday, February 29th. BMO Capital Markets lifted their price target on Arvinas from $89.00 to $90.00 and gave the stock an outperform rating in a research note on Wednesday, February 28th. Citigroup downgraded Arvinas from a buy rating to a neutral rating and increased their price objective for the company from $36.00 to $55.00 in a research note on Wednesday, February 14th. The Goldman Sachs Group began coverage on shares of Arvinas in a report on Thursday, February 1st. They set a buy rating and a $70.00 target price for the company. Finally, Wells Fargo & Company lowered their price target on shares of Arvinas from $63.00 to $60.00 and set an overweight rating on the stock in a research report on Thursday, May 9th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $61.13.

Arvinas Price Performance

Shares of NASDAQ:ARVN traded up $0.57 during trading on Friday, hitting $32.68. 537,147 shares of the stock traded hands, compared to its average volume of 703,834. The company has a fifty day moving average price of $36.93 and a two-hundred day moving average price of $36.25. Arvinas has a 52-week low of $13.57 and a 52-week high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.97) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.45. Arvinas had a negative return on equity of 64.79% and a negative net margin of 185.09%. The firm had revenue of $25.30 million during the quarter, compared to analyst estimates of $32.94 million. During the same quarter in the previous year, the business earned ($1.54) EPS. Arvinas’s revenue for the quarter was down 22.2% compared to the same quarter last year. Equities research analysts forecast that Arvinas will post -4.08 EPS for the current year.

Insider Transactions at Arvinas

In other news, CEO John G. Houston sold 5,196 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction of $244,471.80. Following the sale, the chief executive officer now owns 1,036,681 shares of the company’s stock, valued at $48,775,841.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO John G. Houston sold 5,196 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $244,471.80. Following the sale, the chief executive officer now owns 1,036,681 shares of the company’s stock, valued at $48,775,841.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ronald Peck sold 1,699 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $79,937.95. Following the completion of the sale, the insider now directly owns 67,516 shares in the company, valued at $3,176,627.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,597 shares of company stock valued at $404,489. 5.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ARVN. American International Group Inc. boosted its holdings in Arvinas by 1.8% in the first quarter. American International Group Inc. now owns 24,857 shares of the company’s stock valued at $1,026,000 after purchasing an additional 449 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Arvinas by 3.8% during the first quarter. Principal Financial Group Inc. now owns 13,307 shares of the company’s stock worth $549,000 after purchasing an additional 486 shares in the last quarter. Sectoral Asset Management Inc. increased its position in shares of Arvinas by 13.5% during the third quarter. Sectoral Asset Management Inc. now owns 7,010 shares of the company’s stock worth $138,000 after purchasing an additional 835 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Arvinas by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,570 shares of the company’s stock valued at $519,000 after purchasing an additional 1,060 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Arvinas during the first quarter worth approximately $44,000. 95.19% of the stock is 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.