Arvinas (NASDAQ:ARVN) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Arvinas (NASDAQ:ARVN – Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

ARVN has been the subject of a number of other research reports. Zacks Research upgraded Arvinas from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Wells Fargo & Company reiterated an “equal weight” rating and set a $11.00 target price (down from $15.00) on shares of Arvinas in a research report on Tuesday, August 4th. Weiss Ratings lowered shares of Arvinas from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 30th. Wedbush upped their price target on shares of Arvinas from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Finally, Citigroup raised their price target on shares of Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.17.

View Our Latest Report on Arvinas

Arvinas Trading Up 2.7%

Shares of NASDAQ:ARVN opened at $8.99 on Friday. Arvinas has a 12 month low of $6.32 and a 12 month high of $14.51. The company has a market capitalization of $580.03 million, a price-to-earnings ratio of 89.91 and a beta of 1.71. The firm’s 50-day moving average is $8.06 and its 200 day moving average is $10.21.

Arvinas (NASDAQ:ARVN – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $2.95. Arvinas had a net margin of 2.94% and a return on equity of 1.91%. The business had revenue of $249.70 million during the quarter, compared to the consensus estimate of $60.71 million. During the same quarter last year, the firm earned ($0.84) earnings per share. The firm’s quarterly revenue was up 1014.7% compared to the same quarter last year. As a group, equities analysts forecast that Arvinas will post -1.15 EPS for the current fiscal year.

Insider Activity

In other news, CFO Andrew Saik sold 5,696 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $8.16, for a total transaction of $46,479.36. Following the transaction, the chief financial officer owned 187,432 shares in the company, valued at approximately $1,529,445.12. This trade represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Hussman Strategic Advisors Inc. purchased a new position in shares of Arvinas in the 4th quarter worth approximately $1,245,000. Brummer Multi Strategy AB purchased a new stake in Arvinas during the fourth quarter valued at approximately $1,973,000. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in Arvinas by 371.0% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 70,650 shares of the company’s stock valued at $838,000 after acquiring an additional 55,650 shares in the last quarter. Armistice Capital LLC boosted its stake in Arvinas by 50.0% in the fourth quarter. Armistice Capital LLC now owns 1,800,000 shares of the company’s stock valued at $21,348,000 after acquiring an additional 600,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in Arvinas by 876.1% in the first quarter. Public Employees Retirement System of Ohio now owns 97,611 shares of the company’s stock worth $1,035,000 after purchasing an additional 87,611 shares during the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

About Arvinas

(Get Free Report)

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.

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